Result of GM and Completion of Placings

RNS Number : 6879O

Altitude Group PLC

31 January 2019

 

Altitude Group plc

("Altitude" or the "Company")

Result of GM

and

Completion of Placings

Altitude Group plc (AIM: ALT), the operator of a leading marketplace for personalised products announces that, at the Company's General Meeting held earlier today, all of the resolutions tabled at the meeting were duly passed.

As a result, the Company is pleased to announce the placing of the 7,900,770 Second Placing Shares in the Company, to complete the Placings to raise £9 million at a price of 68 pence per Ordinary Share, as announced on 15 January 2019. 

Director Participation

Certain Directors of the Company have, in aggregate, subscribed for 389,706 new Ordinary Shares (£265,000 at the Placing Price) in the Placings (the "Participating Directors").

The beneficial holdings of the Participating Directors before and after the Placings are set out below:

	Beneficial holding before the Placings		Placing Shares	Beneficial holding following the issue of the New Ordinary Shares
	(shares)	(%)	(shares)	(shares)	(%)
Peter Hallett	231,337	0.42	73,529	304,866	0.45
Martin Varley	12,132,559	22.18	147,059	12,279,618	18.08
Keith Edelman	-	-	147,059	147,059	0.22
Graeme Couturier	28,369	0.05	22,059	50,428	0.07

The participation of the Directors in the Placings constitutes a related party transaction for the purposes of Rule 13 of the AIM Rules for Companies.

Nichole Stella, Deborah Wilkinson and Gellan Watt, who are not participating in the Placings, are considered to be independent directors for the purposes of AIM Rule 13 ("Independent Directors"). As such the Independent Directors, having consulted with the Company's Nominated Adviser, consider the participation of the Participating Directors in the Placings to be fair and reasonable insofar as the Company's shareholders are concerned.

Total Voting Rights

Following the Placings, application has been made to the London Stock Exchange for the 7,900,770 Second Placing Shares to be admitted to trading on AIM on or around 1 February 2019. The total voting rights in the Company is now 67,924,929. The figure of 67,924,929 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 Company under the FCA's Disclosure Guidance and Transparency Rules.

Unless otherwise defined herein, capitalised terms used in this announcement shall have the same meanings as defined in the Company's announcement released on 11 January 2019.

For further information please contact:       

Altitude Group plc Nichole Stella, Chief Executive Officer Graeme Couturier, Chief Financial Officer Peter Hallett, Non-Executive Chairman	Via Instinctif - 020 7457 20200
finnCap Ltd (Nominated Adviser & Broker) Jonny Franklin-Adams (Corporate Finance) Scott Mathieson (Corporate Finance) Richard Chambers (ECM)	020 7220 05000
Instinctif Partners (Financial PR) Matthew Smallwood Chantal Woolcock	020 7457 20200

 

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