Character Group PLC Payment of earnout consideration and TVR (2600E)
03 July 2019 - 1:25AM
UK Regulatory
TIDMCCT
RNS Number : 2600E
Character Group PLC
02 July 2019
2 July 2019
The Character Group plc
("Character Group" or the "Company")
Proxy - payment of earnout consideration
and
Total Voting Rights
Character Group (AIM: CCT) announces that, in accordance with
the terms of the Share Purchase Agreement dated 17 October 2018
relating to the purchase by its subsidiary Character Nordic Limited
of an initial 55% interest in OVG-Proxy A/S, EBIT-based earn-out
consideration has become payable to Kidz A/S and Wamami Holding APS
(companies owned respectively by Proxy's CEO, Morten Geschwendtner
and Proxy's CFO, Mikkel Kjærsgaard) (together the "Sellers") in
respect of the year ended 31 December 2018.
The consideration has been satisfied by:
- the transfer from treasury to the Sellers of 150,000 ordinary
shares of 5 pence each in Character Group ("Ordinary Shares");
and
- the payment in cash to the Sellers of approximately GBP438,000
(c. 3.9 million Danish Krone).
In accordance with Rule 17 and Schedule 7 of the AIM Rules for
Companies, the Company provides the following details of the
consequential movement of shares out of treasury:
- Date of movement of shares out of treasury: 28 June 2019
and 2 July 2019;
- Number and class of shares transferred out of treasury:
150,000 Ordinary Shares;
- Number and class of shares remaining in treasury following
such transfer: 2,283,256 Ordinary Shares; and
- Number and class of shares in issue less those held in treasury
following such transfer: 21,375,995.
Total Voting Rights (TVR)
The above figure of 21,375,995 may be used by shareholders as
the denominator for the calculations by which they will determine
if they are required to notify their interest, or a change to their
interest, in the Company under the Disclosure Guidance and
Transparency Rules
Enquiries:
The Character Group plc
Kiran Shah, Joint MD
Tel: +44 (0)208 329 3377
Panmure Gordon, Nominated Adviser and Joint Broker
Atholl Tweedie, Investment Banking
Charles Leigh-Pemberton, Corporate Broking
Tel: +44 (0)20 7886 2500
Allenby Capital Limited, Joint Broker
Nick Athanas
Tel: +44 (0)20 3328 5656
Tooley Street Communications, IR & Media Relations
Fiona Tooley
Tel: +44 (0)7785 703 523
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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
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