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Innov8 Social Media PLC: Shareholder Update and News on Suspension

DGAP-News: Innov8 Social Media PLC / Key word(s): Miscellaneous
Innov8 Social Media PLC: Shareholder Update and News on Suspension

25.06.2012 / 11:05

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The Directors of Innov8 Social Media plc (´Innov8´ or the ´Company´) can
report that they have recently received a letter from the Frankfurt Stock
Exchange replying to the Board´s numerous enquiries about the Company´s
ongoing suspension from Trading.

Unfortunately this letter from the Exchange does not enable to Board to
give any clarity to their Shareholders as to when this suspension in
trading may be lifted or any further information relating to the ongoing
investigation. The Exchange have made it clear that this position will be
maintained until the investigation into market manipulation has been
concluded.

Due to the lack of progress made since the suspension, and the Directors´
frustration with the treatment of the Company and it´s Shareholders, a
unanimous decision was made to evaluate other European and UK Stock
Exchanges on which to list Innov8´s securities. The Directors believe that
this is a necessary step in providing Shareholders and investors with
liquidity, and improving any reputational damage to the Company, caused by
the events and succeeding suspension in Frankfurt. There are a number of
options open to the Company and the Directors are currently engaged in the
process of evaluating the best possible route ensuring the timely and cost
effective resumption of orderly trading in the Company´s shares. In light
of recent events in Frankfurt, the Directors will ensure that any
alternative Exchange will sufficiently protect its Shareholders and their
interests through improved regulation.

As a result of the extended suspension and uncertainty the Company has been
unable to raise any new funds as was set out in the Business Plan, and as a
result of this has not been in a position to make any new investments or
acquisitions to expand our existing portfolio. However, the Directors
continue to monitor and evaluate the marketplace in order to identify
future projects and investment opportunities to allow us to move quickly as
and when funding becomes available.

Commenting, Richard Chilvers (CEO); ´Since coming to market on the First
Quotation Board in Frankfurt last year we have not had a particularly
positive experience. This has been worsened by a notable lack of progress
since our shares were suspended, despite our full and extensive
co-operation with the authorities and Exchange. In our responsibility to
our Shareholders we are determined to see this through, regardless of the
challenges faced, and to have our trading reinstated either in Frankfurt or
an alternative market suitable for our investors, both current and
prospective. I will update Shareholderswhen the Directors have reached a
decision on the future of the Company´s quotation in Frankfurt´.

** END OF NEWS RELEASE **

About Innov8
Innov8 Social Media Plc (´Innov8´) is an active investor in social and
digital media technologies, which was formed in 2011 to capitalise on a
number of opportunities in this rapidly growing and dynamic market segment.
The Company looks to grow its existing portfolio of assets which range
across a number of subsectors including semantic web 3.0 solutions, social
data analytics, e-commerce and social gaming. Innov8´s vision is to become
a globally recognised, market leading investment platform for young
companies and emergent technologies in the social and digital media
sectors.
Innov8 Social Media Plc, 1 Kings Avenue, Winchmore Hill, London N21 3NA, UK

www.inov8social.com or www.innov8socialmedia.com
Stock Exchanges: Frankfurt, ISIN: GB00B7619Q46, Ticker: I8SM, WKN: A1JNWE

Disclaimer
This news release may contain certain forward-looking statements,
expectations, intentions, strategies and beliefs regarding the future. All
statements contained herein are based upon information available to the
management of Innov8 Social Media Plc as of the date hereof, and actual
results may vary based upon future events, both within and without the
control of the management, including risks and uncertainties that could
cause actual results to differ materially.
Management does not take any responsibility to update the contents of this
News Release in case new aspects arise or new conditions change the facts
available.

End of Corporate News

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25.06.2012 Dissemination of a Corporate News, transmitted by DGAP - a
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175265 25.06.2012