Convertible Loan Note, Issue of Equity and General Meeting

Milestone (AIM: MSG), the AIM and Social Stock Exchange quoted provider of digital media, technology and social impact solutions announces that, conditional on shareholder approval to be sought at a forthcoming General Meeting, the Company has conditionally raised (by way of a subscription and convertible loan notes) £1,500,000 by the issue of 522,626,906 new ordinary shares at a price of approximately 0.29p per share (“the Subscription Price”).

The subscriber of the shares is Para & Co (UK) Ltd, a private limited company wholly owned by Dr. Ramesh Para.

Dr. Ramesh Para is a British businessman whose business interests include technology, fin-tech, healthcare, insurance and education.

Para & Co (UK) Ltd has agreed to fund the Company by way of an advance of these subscription monies in a form of a convertible loan note totaling £400,000.  The convertible loan note may be drawn down in two tranches.  The first tranche will be made available by 15 July 2017 and the second tranche by 15 August 2017.  Any loan drawn down in advance of the subscription will form part of the £1,500,000 subscription monies due and will be converted into ordinary share in the Company at the Subscription Price.

Para & Co (UK) Ltd has undertaken that it will not hold more than 29.9% of the Company’s issued share capital as a result of the Subscription or the Conversion.

Following the subscription and subject to normal regulatory due diligence, it is intended that Dr. Ramesh Para will become a director of the Company.  Dr. Ramesh Para will be the first of a number of appointments expected to be made to the Board and Management team in the near future to support the restructuring of the business.

Following the conversion and subscription (assuming no further issues of equity) the Company’s so enlarged issued share capital will comprise 1,772,268,317 ordinary shares.

Further announcements will be made in due course.

Deborah White, CEO of Milestone commented:

“Following the recent review and refocusing of the business this investment gives the Company a combination of financial security and access to an extensive network of commercial opportunities for the technology based products and services made available via the Company’s subsidiary Nexstar.”

For further information:

Milestone Group plc
Deborah White, Chief Executive                                      Tel: 020 7929 7826

Cairn Financial Advisers LLP, Nominated Adviser
Liam Murray / Sandy Jamieson                                         Tel: 020 7213 0880

Hybridan LLP, Broker
Claire Louise Noyce                                                                        Tel: 020 3764 2341

Walbrook PR Limited, PR
Gary Middleton / Paul Cornelius                                       Tel: 020 7933 8780