Gamma Communications PLC Issue of Equity (9060R)
09 July 2022 - 1:39AM
UK Regulatory
TIDMGAMA
RNS Number : 9060R
Gamma Communications PLC
08 July 2022
8 July 2022
Gamma Communications plc
(the "Company" or "Gamma")
Issue of equity in connection with options in respect of
historical acquisition
Payments made in respect of historical acquisition
Further to announcements dated 2 July 2020 and 28 May 2021,
Gamma has recently acquired an additional c8% of the shares of
Gamma Holding GmbH ("GHG") (formerly HFO Holding AG). This has been
achieved by a payment of 4.4m euro in connection with an option
exercise. Gamma now owns c96% of the shares of GHG with options to
acquire the remaining c4% by the end of 2023. GHG is a provider of
SIP Trunks and unified communications in Germany.
The payment is in the upper half of the possible range which
reflects the continued performance of the business since
acquisition.
Reinvestment
Under the terms of the original agreement, the vendors of GHG
have reinvested GBP0.5m in Gamma (approximately 14% of the
consideration received).
This reinvestment has been achieved by way of subscription for
44,558 ordinary shares of 0.25 pence each in the capital of the
Company, which will be issued as new shares.
Gamma has applied for admission of these new ordinary shares to
trading on AIM. Admission is expected to take place at 8.00am on 13
July 2022.
The Company's total issued share capital following admission
will consist of 96,540,667 ordinary shares of 0.25 pence each with
one voting right per share. This figure may be used by shareholders
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 and Transparency Rules.
Gamma Communications plc Tel: +44 (0) 333 006 5972
Andrew Belshaw, Chief Executive
Officer
Bill Castell, Chief Financial
Officer
Malcolm Goddard, Company Secretary
Tulchan Communications LLP Tel: +44 (0) 207 353 4200
James Macey White / Matt Low
Investec Bank plc (NOMAD & Tel: +44 (0) 207 597 5970
Broker)
Patrick Robb / Virginia Bull
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END
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