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Saturday, September 11, 2004

Manxman Seeks Alternative Funding

(credit: http://www.theradiomagazine.co.uk )
Isle of Man International Broadcasting, the company behind the Isle of Man longwave station MusicMann 279, has withdrawn its public offering. The company launched a prospectus in June this year and had planned to issue 18.6 million shares on the AIM next year.
The offer was withdrawn after only a month with the company claiming that restrictions in offer documents, as laid down by the financial regulators, prevented a full story of the station's potential being told. The Isle of Man International Broadcasting Company holds a licence to broadcast for 10 years and is proposing to broadcast from a rig off the Isle of Man coastline.