ATTRAQT Group PLC Completion of Fredhopper Acquisition (7912Y)
March 08 2017 - 1:00AM
UK Regulatory
TIDMATQT
RNS Number : 7912Y
ATTRAQT Group PLC
08 March 2017
08 March 2017
ATTRAQT Group plc
("ATTRAQT", the "Group" or the "Company")
COMPLETION OF FREDHOPPER ACQUISITION
READMISSION AND FIRST DAY OF DEALINGS
AND
TOTAL VOTING RIGHTS
ATTRAQT Group plc (AIM: ATQT), a leading provider of onsite
search, online merchandising and eCommerce personalisation
technology, is pleased to announce that its acquisition of
Fredhopper BV ("Fredhopper") (the "Acquisition") has been completed
and that its ordinary shares will be readmitted to trading on the
AIM Market of the London Stock Exchange (under the ticker ATQT)
with effect from 8am.
Highlights
-- Fredhopper is a cloud-based provider of onsite search,
navigation, recommendation and visual merchandising solutions
through a global SaaS platform, and has a large recurring revenue
base which accounted for 90% of total revenues in FY16
-- This represents a transformational opportunity which brings
critical mass to ATTRAQT - the Enlarged Group has a strong presence
in the UK, US and Continental Europe with approximately 250
clients
-- A firm placing (the "Firm Placing"), open offer and
subscription has raised gross proceeds of GBP27.8 million by
issuing 79,426,249 new ordinary shares at an issue price of 35
pence per ordinary share. The net proceeds raised have been used to
fund the Acquisition, with the balance to fund the integration of
the two businesses, investment into sales and marketing, customer
support and on-going product development and general working
capital for the Enlarged Group. The Firm Placing was arranged by
N+1 Singer, acting as Nominated Adviser and Sole Broker
The Company's admission document can be found at:
www.attraqt.com
André Brown, CEO of ATTRAQT Group plc, commented:
"I am delighted that the acquisition of the Fredhopper business
has been completed and I look forward to growing the business
together as we work to become the global online merchandising
partner of choice for retailers. Going forward we will look to
utilise the joint scope and experience of both companies and
accelerate our global product offering and technology developments;
enhancing business continuity and reinforcing our position as the
go-to player in the market."
Total voting rights
Following Admission, the Company will have a total of
106,368,589 Ordinary Shares of 1p each in issue. 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 Company. The
Company does not hold any shares in treasury.
For further information, please contact:
ATTRAQT Group plc via Newgate
André Brown, CEO
Mark Johnson, CFO
Gemma Owen-Smith, Head of Marketing and Communications
N+1 Singer Tel: 020 7496 3000
Shaun Dobson, Lauren Kettle, Alex Price
Newgate Tel: 020 7680 6550
Adam Lloyd, Charlotte Coulson, Sophie O'Donoghue
About ATTRAQT Group plc
ATTRAQT Group plc specialises in onsite search, online
merchandising and eCommerce personalisation. Following ATTRAQT's
acquisition of Fredhopper in 2017, the Enlarged Group has two
product offerings: Freestyle Merchandising and Fredhopper and has a
combined client base of around 250 clients, including Tesco
Clothing (part of Tesco Plc (LSE: TSCO)), boohoo.com (LSE: BOO) and
Superdry (LSE: SGP). The Enlarged Group has market presence in the
UK, the US and Continental Europe. For more information please
visit: http://attraqt.com/
This information is provided by RNS
The company news service from the London Stock Exchange
END
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