Castleton Technology PLC Acquisition of Castleton India and Issue of Equity (4964Q)
20 February 2019 - 6:00PM
UK Regulatory
TIDMCTP
RNS Number : 4964Q
Castleton Technology PLC
20 February 2019
Castleton Technology PLC
("Castleton " or the "Group")
Acquisition of Castleton India and Issue of Equity
Castleton Technology plc (AIM: CTP), the software and managed
services provider to the public and not-for-profit sectors, is
pleased to announce the acquisition of Castleton India (previously
known as CarbonNV InfoLogic India Private Limited) for a total
consideration of GBP350,000 comprising 200,331 ordinary shares of 2
pence in the capital of the Group ("Ordinary Shares") and
GBP154,678 of cash (the "Acquisition").
Castleton India, which has offices in Bangalore and Vadodara,
India, has provided additional development capability to the Group
via a service agreement over the current financial year. The
Acquisition will enable the Group to secure the additional
development capability and skills of the 21 employees who have
joined Castleton to date on a long term basis. The Acquisition will
complete upon Admission of the new Ordinary Shares, expected to be
on 22 February 2019.
Dean Dickinson, Chief Executive of Castleton, said:
"The acquisition of Castleton India follows a very successful
working relationship between the UK and Indian teams over the past
11 months. This period has seen delivery of a number of products
including Castleton.DIGITAL, allowing us to bring new solutions to
the market quicker and at a reduced cost. I look forward to working
closely with the combined onshore and offshore team to bring our
product road map to market over the coming years."
Issue of Equity
Application has been made for 200,331 Ordinary Shares to be
admitted to trading on AIM ("Admission"). The new Ordinary Shares
will rank pari passu with the Group's existing Ordinary Shares and
it is expected that Admission will become effective and dealings in
the new Ordinary Shares will commence at 8.00 a.m. on 22 February
2019.
On Admission, the Company will have a total of 81,532,765
Ordinary Shares in issue with one voting right per share. The above
figure may be used by shareholders in the Company 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 share capital of the Company under the FCA's
Disclosure Guidance and Transparency Rules.
Enquiries:Castleton Technology plc Tel. +44 (0)845 241 0220
Dean Dickinson, Chief Executive Officer
Haywood Chapman, Chief Financial Officer
finnCap Ltd Tel. +44 (0)20 7220 0500
Jonny Franklin-Adams / Simon Hicks (Corporate
Finance) Andrew Burdis (ECM)
Alma PR Tel. +44(0) 7780 901979
Rebecca Sanders-Hewett/ Helena Bogle/
Josh Royston
About Castleton Technology plc
Castleton Technology plc is a leading supplier of complementary
software and managed services to the public and not-for-profit
sectors. The Group is a 'one stop shop', providing integrated
housing systems via the Cloud, working in partnership with its
customers and resellers to help drive efficiencies whilst improving
controls and customer service. www.castletonplc.com
The information communicated in this announcement is inside
information for the purposes of Article 7 of Regulation
596/2014.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
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
MSCTLMBTMBBBBLL
(END) Dow Jones Newswires
February 20, 2019 02:00 ET (07:00 GMT)
Castleton Technology (LSE:CTP)
Historical Stock Chart
From Apr 2024 to May 2024
Castleton Technology (LSE:CTP)
Historical Stock Chart
From May 2023 to May 2024