Litebulb Group Limited Issue of Equity (1773T)
16 July 2015 - 4:00PM
UK Regulatory
TIDMLBB
RNS Number : 1773T
Litebulb Group Limited
16 July 2015
16 July 2015
LITEBULB GROUP LIMITED
("LiteBulb" or the "Company")
Issue of Equity
LiteBulb (AIM: LBB), the brand and product development
specialist, announces that its subsidiary, Meld Group, has
successfully satisfied the earnout conditions of the acquisition,
in that the maximum earnout target of GBP899,330 for the year
ending 31 December 2014, as announced on 5 November 2013, was
achieved. As a result the Company will issue 6,952,857 ordinary
shares of no par value ("Ordinary Shares") in aggregate to the
Sellers (as defined in the announcement dated 5 November 2013).
Additionally the Company has issued 2,494 ordinary shares of no
par value ("Ordinary Shares") in connection with interest for the
period 25 March 2015 to 23 June 2015 in respect of the convertible
loan notes issued by the Company on 10 December 2014.
Application has been made for the 6,955,351 Ordinary Shares to
be admitted to trading on AIM and it is expected that admission
will become effective on 21 July 2015. Following admission, the
total number of issued Ordinary Shares in the Company will be
58,194,333. The Company does not hold any Ordinary Shares in
treasury and therefore this 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 Financial Conduct Authority's Disclosure and Transparency
Rules.
Commenting on Meld Group's performance Howard Partington,
Interim Chief Executive of LiteBulb, said: "We are very pleased to
see Meld Group successfully achieve the earnout conditions imposed
at the time of the acquisition as it underpins the confidence we
have in the business at the time and the continued success we were
expecting to see following its inclusion in the wider LiteBulb
business."
For further information, please contact:
LiteBulb Group Limited www.litebulbgroup.com
Howard Partington, Interim Tel: 020 3384 7131
Chief Executive
Guy Pettigrew, Group Finance
Director
finnCap (NOMAD & Broker) Tel: 020 7220 0500
Stuart Andrews/Scott Mathieson
(Corporate Finance)
Joanna Weaving (Corporate
Broking)
Walbrook PR Limited Tel: 020 7933 8780 or
litebulb@walbrookpr.com
Paul McManus Mob: 07980 541 893
About LiteBulb Group
LiteBulb Group designs, manufactures and distributes innovative
brands and products to the global retail market.
LiteBulb Products, our wide range of products are sold in over
30 countries through blue chip retailers including: ASDA, BHS,
Tesco, Sainsbury's, WH Smith, Halfords, Marks & Spencer,
Morrisons, QVC, Next, Fenwicks and Toys R Us.
LiteBulb Creative is a creative agency with global reach,
delivering compelling and agile brand extension programmes to the
entertainment industry. LiteBulb Creative has designed products and
campaigns for clients around the world, including Disney, Hasbro
and Miramax.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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