Correction Re:Vantis Corporate Finance
February 28 2003 - 3:25AM
UK Regulatory
The following additional listing announcement replaces the announcement under
RNS:1033I released on 28th February 2003 at 7:00hrs. The third paragraph should
read that admission is expected to occur on Thursday 6th March 2003 and not 6th
February 2003 as previously reported.
All other details remain unchanged. The full amended text appears below.
VANTIS PLC
("Vantis" or the "Company")
Additional Listing
Vantis plc ("Vantis" or the "Company"), the accountancy and professional
advisory group, is pleased to announce that, further to the announcement of 22
July 2002 regarding the launch of its corporate finance house, Vantis Corporate
Finance Limited, the Company has now agreed the terms under which Mr Norrie
will procure the transfer to Vantis Corporate Finance Limited of transactions
in progress at that date.
Under the terms of this agreement with Mr Norrie, Vantis will make an initial
cash payment to Mr Norrie of �60,000. The Company will also issue 88,888 new
ordinary shares in the Company ("Initial New Ordinary Shares") to Mr Norrie.
The Company is applying to the London Stock Exchange for the Initial New
Ordinary Shares to be admitted to trading on AIM. Admission is expected to
occur on Thursday 6th March 2003.
Subject to the achievement of profit targets of Vantis Corporate Finance
Limited for the year to 1 May 2003, an additional 55,555 new ordinary shares in
the Company may be issued to Mr Norrie in due course. Furthermore, there may be
further consideration payable in cash to Mr Norrie under his participation in a
management scheme which recognises the value of the goodwill in client
retention and development, which will be enjoyed by Vantis.
Enquiries:
Paul Jackson, Chief Executive
Paul Ashton, M&A Director
Vantis plc 020 7417 0417
Richard Darby/Suzanne Dunne
Buchanan Communications 020 7466 5000
28 February 2003
END