LONDON (21 February 2005) — The international law firm of McDermott Will & Emery has advised Arden Partners, the nominated adviser and broker for City Lofts Group and Milestone Group, on two separate placings of ordinary shares.
First, Arden Partners raised on behalf of City Lofts Group PLC £2.5 million via the placing of 3,125,000 new ordinary shares at 80 pence each. City Lofts Group PLC is a leading regional developer of urban mixed-use property schemes primarily focused on residential apartments.
Secondly, Arden Partners have agreed to raise £1 million via the placing of 5,000,000 new ordinary shares at 20 pence each to be traded on AIM on behalf of Milestone Group. Milestone Group is an expanding cross media group focused on local and regional markets.