Shearwater Group PLC Issue of Equity (8001J)
07 December 2018 - 7:35PM
UK Regulatory
TIDMSWG
RNS Number : 8001J
Shearwater Group PLC
07 December 2018
7 December 2018
SHEARWATER GROUP PLC
("Shearwater", or the "Company")
Newable Consulting earn out
Issue of equity
Shearwater Group plc (AIM: SWG) announces that pursuant to the
acquisition of the business and assets of Newable Consulting
Limited ("Newable") which completed on 26 July 2017, and following
the achievement of certain performance hurdles, the Company has
agreed the final earn out payment owing to Newable. In accordance
with the asset purchase agreement this payment has been settled
through the issuance and allotment of 612,017 new ordinary shares.
The new ordinary shares will be subject to a 12 month lock in
arrangement.
Application will be made for the 612,017 new ordinary shares to
be admitted to trading on AIM, which is expected to take place on
13 December 2018. The new ordinary shares will rank pari passu with
the existing ordinary shares in issue.
Total Voting Rights
In accordance with the provisions of the Disclosure, Guidance
and Transparency Rules of the Financial Conduct Authority, the
Company confirms that, following admission, its issued share
capital will comprise 1,903,679,138 ordinary shares of 1p each,
none of which are held in treasury. Accordingly, the total number
of voting rights in the Company will therefore be 1,903,679,138 on
admission.
Enquiries:
Shearwater Group plc www.theshearwatergroup.co.uk
David Williams c/o Instinctif Partners
Michael (Mo) Stevens
Cenkos Securities plc - NOMAD and Broker
Max Hartley - NOMAD
Julian Morse / Michael Johnson - Sales +44 (0) 20 7397 8900
Instinctif Partners shearwater@instinctif.com
Adrian Duffield / Chantal Woolcock / +44 (0) 20 7427 1412
Kay Larsen
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END
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