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Globo plc

£1 million raised to fund initial CitronGO! roll-out

Globo plc ("Globo" or the "Company"; LSE-AIM:
GBO), a leader in the Information and Communications Technology market
in Greece, announces that it has raised approximately
£1 million before expenses via a placing, with UK and
Greek investors, of 11,944,029 new
ordinary shares of 1 pence each, representing
approximately 8.4 per cent of
the issued share capital of the Company as enlarged by
the placing, at
a price of 8.5 pence per share.
 

The net proceeds from the Placing will
contribute to the initial international roll-out of CitronGO!
the open ‘cloud‘ mobile
communication software solution providing personal
and professional users with true ubiquitous computing
on a single screen on any mobile phone or laptop – regardless of manufacturer,
vendor or network.

Application will be made for the 11,944,029 new
ordinary shares to be admitted
to AIM and admission is expected to occur on 20 August
2009. Following the placing,
Globo’s issued share capital will consist of 142,533,559 ordinary
shares. 

Costis Papadimitrakopoulos, Managing Director,
commented:

"Following the very positive initial reception
from the market, we believe CitronGO! will be a significant contributor to
Globo’s international expansion. We are very pleased with the support we have
received from investors in the UK and Greece. This will enable us to accelerate
our profitable growth through expansion into the international mobile channel,
building on the strong business platform we have established in South Eastern
Europe."

Globo’s strategy for rolling out CitronGO! focuses
on developing strategic partnerships with mobile network operators ("MNOs"),
internationally, in order to access their customer bases. Direct discussions are
ongoing with several MNOs in different European countries. In addition,
marketing and business development partnerships have been established in order
to support existing negotiations with MNOs in Latin America, EMEA, Africa, India and China.
 

As announced on July 21, current trading is
strong with revenues for the first half of 2009
expected to have increased by approximately 15 per cent to €8.3 million (first
half of 2008: €7.2 million), ahead of the Board‘s
expectations, with anticipated profit before tax marginally ahead of the same
period last year. As a result of significantly improved cash collection,
net debt at 30 June 2009 reduced by €2.3 million to €7.5 million (€9.8 million at 31 December 2008;
€8.4 million at 30 June 2008). 

Globo expects to announce full results for the
six months ended 30 June 2009 in September.

St Helen‘s
Capital Plc was broker to the
placing.

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