Altitude Group PLC Update: Admission of Consideration Shares (3007N)
January 16 2019 - 9:31AM
UK Regulatory
TIDMALT
RNS Number : 3007N
Altitude Group PLC
16 January 2019
16 January 2019
Altitude Group plc
("Altitude" or the "Company")
Update: Admission of Consideration Shares
and
Completion of Acquisition
Altitude Group plc (AIM: ALT), the operator of a leading
marketplace for personalised products announces that the
independent valuation report of the non-cash consideration required
under the Companies Act 2006 (the "Valuation Report") is not yet
completed regarding AI Mastermind. This will effect the allotment
and admission of the 860,294 conditional Consideration Shares.
As such, while the 5,334,525 First Placing Shares will still be
admitted to trading on 17 January 2019, the 860,294 Consideration
Shares will be delayed until receipt of the Valuation Report.
A further update regarding the Consideration Shares will be
provided upon the Company's receipt of the Valuation Report.
Completion of the Acquisition
Notwithstanding the above, the Acquisition will complete at the
same time as completion of the First Placing.
Total Voting Rights
Application has therefore been made to the London Stock Exchange
for the 5,334,525 Placing Shares to be admitted to trading on AIM.
It is still expected that the First Placing Shares will be admitted
to trading at 8.00 a.m. on 17 January 2019. It is expected that the
Second Placing Shares will be admitted to trading on or around 8.00
a.m. on 1 February 2019 and a further announcement confirming this
will be made by the Company after the conclusion of the General
Meeting on 31 January 2019.
After First Admission, the total number of Ordinary Shares in
issue will be 60,024,159 and the total number of voting rights will
therefore be 60,024,159. This figure may be used by shareholders as
the denominator for the calculations by which they will determine
if they are required to notify their interest in, or a change to
their interest in, the share capital of the Company under the FCA's
Disclosure and Transparency Rules.
The Consideration Shares will be admitted upon the Company's
receipt of the required Valuation Report and a further announcement
will be made in due course.
Unless otherwise defined herein, capitalised terms used in this
announcement shall have the same meanings as defined in the
Company's announcement released on 11 January 2019.
For further information please contact:
Altitude Group plc
Nichole Stella, Chief Executive Via Instinctif - 020 7457
Officer 20200
Graeme Couturier, Chief Financial
Officer
Peter Hallett, Non-Executive Chairman
finnCap Ltd (Nominated Adviser
& Broker)
Jonny Franklin-Adams (Corporate
Finance)
Scott Mathieson (Corporate Finance)
Richard Chambers (ECM) 020 7220 05000
Instinctif Partners (Financial
PR)
Matthew Smallwood
Chantal Woolcock 020 7457 20200
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
UPDBFMATMBTBBPL
(END) Dow Jones Newswires
January 16, 2019 10:31 ET (15:31 GMT)
Altitude (LSE:ALT)
Historical Stock Chart
From Mar 2024 to Apr 2024
Altitude (LSE:ALT)
Historical Stock Chart
From Apr 2023 to Apr 2024