Dillistone Group PLC Placing (4437T)
October 03 2014 - 8:58AM
UK Regulatory
TIDMDSG
RNS Number : 4437T
Dillistone Group PLC
03 October 2014
3 October 2014
Dillistone Group Plc
("Dillistone", the "Company" or the "Group")
Additional GBP500,000 placing
On 30 September 2014, Dillistone Group Plc, the AIM quoted
supplier of software and services for the recruitment sector,
announced a placing at 95p per share to raise GBP500,000 (before
expenses) to finance part of the initial cash consideration due in
respect of the acquisition of ISV Software Limited.
The Company is pleased to announce today that WH Ireland has
carried out a further placing on behalf of Dillistone of 526,316
new ordinary shares of 5p each in the share capital of Dillistone
("Placing Shares") to raise, also at a price of 95p per Placing
Share, an additional GBP500,000 (before expenses) which will be
used by the Group for working capital purposes.
The issue of 263,158 of these Placing Shares, to raise proceeds
of GBP250,000, is conditional only upon admission of such shares to
AIM ("Admission"), which is expected to take place by 9 October
2014.
The issue of the remaining 263,158 Placing Shares is conditional
upon both Admission and also the Company receiving provisional
clearance from HMRC that such Placing Shares will be eligible for
the purposes of section 285(3A) of the Income Tax Act 2007 and that
they will be qualifying holdings for the purposes of Chapter 4,
Part 6, Income Tax Act 2007. It is expected that such clearance
will be received by 30 November 2014, whereupon the Company will
apply for such shares to be admitted to trading on AIM.
Dr Mike Love (Chairman) and Mr Jason Starr (Chief Executive) are
respectively subscribing for 252,632 and 10,526 Placing Shares.
Their participation is regarded as a related party transaction for
the purposes of the AIM Rules for Companies. With the exception of
Dr. Mike Love and Mr Jason Starr, the directors of the Company
consider, having consulted with its nominated adviser, that the
terms of the transaction are fair and reasonable insofar as its
shareholders are concerned. Following the Placing Dr. Mike Love's
beneficial holding will be 703,254 Ordinary Shares and Mr Jason
Starr's will be 3,564,959 Ordinary Shares.
Enquiries:
Dillistone Group
Plc
Mike Love Chairman 020 7749 6100
Jason Starr Chief Executive 020 7749 6100
Julie Pomeroy Finance Director 020 7749 6100
WH Ireland Limited (Nominated
adviser)
Head of Corporate
Chris Fielding Finance 020 7220 1650
Winningtons
Tom Cooper / Paul
Vann 020 3176 4722
0797 122 1972
tom.cooper@winningtons.co.uk
Notes to Editors:
Dillistone Group Plc (www.dillistonegroup.com) is a leader in
the supply and support of software and services to the recruitment
industry. It has four trading businesses operating through two
divisions: Dillistone Systems, which targets the executive search
industry (www.dillistone.com); and Voyager Software, which targets
other recruitment markets (www.voyagersoftware.com).
Dillistone has made three acquisitions: Voyager Software in
September 2011, FCP Internet in July 2013 and ISV Software in
September 2014. The Group operates under the FileFinder, Infinity,
Evolve and ISV brands.
Dillistone was admitted to AIM, a market operated by the London
Stock Exchange plc, in June 2006. The Group employs over 100 people
globally with offices in London (head office) Basingstoke and
Southampton, Frankfurt, New Jersey and Sydney.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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