Impellam Group plc Issue of Equity (2549U)
April 05 2016 - 9:21AM
UK Regulatory
TIDMIPEL
RNS Number : 2549U
Impellam Group plc
05 April 2016
IMPELLAM GROUP PLC
("Impellam", the "Group" or the "Company")
Issue of Equity, Director's Shareholding and Total Voting Rights
correction
Further to the acquisition of Lorien Limited ("Lorien") which
completed in November 2014, Impellam announces that it has today
issued a total of 719,344 new ordinary shares of 1p each ("Ordinary
Shares") to the vendors of Lorien at a price of 831p per share
("Lorien Consideration Shares"). These shares have been issued to
part satisfy the final deferred consideration due, now payable of
GBP11.95 million, in accordance with the terms of the earn-out.
Subject to satisfactory conclusions of outstanding claims, an
additional cash payment of approximately GBP0.104 million may be
payable to the vendors of Lorien.
As part of the deferred consideration payment, Derek O'Neill, a
non-executive director of Impellam and major shareholder of Lorien,
and his wife, have been issued an aggregate of 261,481 Lorien
Consideration Shares and a cash payment, in aggregate, of
approximately GBP1.9 million. Following the issue of Lorien
Consideration Shares, Mr O'Neill will have an interest in 707,570
Ordinary Shares representing approximately 1.4 per cent. of the
Company's enlarged issued share capital.
In addition, further to the Company's announcements on 8th and
11th December 2015 concerning the acquisition of Bartech Holding
Corporation and the related issue of new Ordinary Shares, it has
come to the Company's attention that the number of shares issued
was incorrectly stated as 401,866 new Ordinary Shares, when it
should have stated that 401,668 new Ordinary Shares were issued.
Accordingly, the Company's issued share capital with voting rights
following the issue of these should have stated 49,623,027 Ordinary
Shares, a difference of 198 Ordinary Shares.
Accordingly an application has been made for 719,146 new
Ordinary Shares to be admitted to trading on AIM, representing the
Lorien Consideration Shares less 198 Ordinary Shares. The Lorien
Consideration Shares are expected to be admitted to trading on AIM
("Admission") on 11 April 2015. Following Admission, the Company's
issued ordinary share capital will consist of 50,342,371 Ordinary
Shares admitted to trading on AIM.
The above figure of 50,342,371 may be used by shareholders as
the denominator for the calculation by which they may determine if
they are required to notify their interest in, or a change to their
interest in, the Company under the FCA's Disclosure and
Transparency Rules.
Enquiries: For further information please contact the
appropriate individual below.
Impellam Group plc
Julia Robertson, Chief Executive Tel: 01582 692658
Darren Mee, Group Finance Tel: 01582 692658
Director
Cenkos Securities plc (Nominated
Advisor and Broker to Impellam)
Nicholas Wells, Mark Connelly Tel: 020 7397 8900
Impellam Group plc, traded on the AIM (Symbol: IPEL) is a
leading provider of managed services and specialist staffing
expertise and is primarily based in the UK and North America, with
smaller operations in Australasia, Ireland and mainland Europe.
Impellam Group plc provides fulfilling jobs to doctors, lawyers,
accountants, nurses, teachers, scientists, receptionists, drivers,
chefs, administrators, engineers, technology specialists, cleaners,
security guards, and manufacturing and warehouse operatives through
18 specialist businesses across a broad range of sectors. Impellam
Group plc manage them as teams or individually and help clients
build better businesses in a changing world. Impellam Group plc is
the 2nd largest recruitment business in the UK, 12th worldwide with
over 2,500 Impellam people across over 234 locations worldwide.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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