Anite Group PLC
27 August 2002
For immediate release 27 August 2002
ANITE GROUP PLC
Anite varies Rox Mariehamn ('Rox') earnout
Anite Group plc ('Anite' or the 'Group'), the European IT Consultancy & Services
company, indicated, at the time of its announcements on 12 July 2002 regarding
the crystallisation and variation of certain earnout payments to the sellers of
businesses acquired since 30 April 2000, that it intended to continue to review
all of the Group's remaining earnout liabilities and would update shareholders
in relation to progress made as appropriate.
Accordingly, Anite is pleased to announce today that it has entered into a
variation agreement with the sellers (the 'Sellers') of Rox, a Finnish IT
services and consultancy company acquired in June 2001.
As a result of such agreement, the maximum, and final, earnout of £100,000
payable on the achievement by Rox of an agreed profit target in respect of the
period ending 30 April 2002 which was due to be satisfied by the issue and
allotment by Anite to the Sellers of Anite Shares shall now be payable in cash.
The Company will provide a further update and analysis of its earnouts and a
current trading update at the time of its Annual General Meeting on 4 September
2002.
John Hawkins, Chief Executive of Anite, stated:
'We have now addressed the earnout obligations for Calculus, Carus, Didgicom,
Parsec and Rox, representing a significant proportion of the Group's total
potential earnout liabilities, thus bringing considerable certainty for our
shareholders compared to the position prior to 12 July 2002.
'We continue to review the few remaining earnout liabilities and will continue
to update shareholders as appropriate.'
For further information, please contact: www.anite.com
Anite Group plc 0118 945 0129
John Hawkins, Chief Executive
Simon Hunt, Finance Director
Weber Shandwick Square Mile 0207 950 2800
Reg Hoare/Laurence Read
This information is provided by RNS
The company news service from the London Stock Exchange
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.