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Media Square

  • BY: Andrew Hore |
  • POSTED: 26/08/2009 |

Media Square shareholders voted against resolutions enabling the marketing services company to issue new shares and buy back existing shares.

Media Square will not be able to issue a significant number of shares without offering them to existing shareholders first or by getting the shareholders to vote to disapply their pre-emption rights at a later date.

Media Square admits that it will make an operating loss in the six months to August 2009. Cost savings should help Media Square to make a full year operating profit.

There was a 1.5p drop in the share price to 15.75p, which values Media Square at 5.08m.

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