Notice of Cancellation

RNS Number : 2398Y

Allocate Software PLC

27 November 2014

 



NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR FROM, CANADA, AUSTRALIA, JAPAN OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION

27 November 2014

Allocate Software Plc ("Allocate")

Notice of Cancellation

Further to the announcement today by Acorn Bidco Limited ("Bidco") that it now holds or has received valid acceptances of their offer ("Offer") in respect of a total of 62,879,164 Allocate ordinary shares, representing an aggregate of  92.05 per cent. of the Allocate ordinary shares to which the Offer relates, the Company has, at the request of Bidco, applied to the London Stock Exchange for the cancellation of trading in the Allocate ordinary shares on AIM ("Cancellation").

Cancellation will significantly reduce the liquidity and marketability of any Allocate ordinary shares not acquired by Bidco and the Board of Allocate therefore recommends to Allocate shareholders that they accept the offer by Bidco.

It is expected that Cancellation will take effect no earlier than 20 business days after the date of this announcement after which time Allocate ordinary shares will no longer be admitted to trading on AIM.

Enquiries:
Allocate Software Plc	Tel: [phone]
Ian Bowles (Chief Executive Officer) Chris Gale (Chief Financial Officer)
William Blair International, Ltd. (lead financial adviser and Rule 3 adviser to Allocate)	Tel: [phone]
Raphael Grunschlag / Oliver Parker
Numis Securities Limited (broker, joint financial adviser and Nominated Adviser to Allocate)	Tel: [phone]
Simon Willis / Richard Thomas (Corporate Finance) James Black (Corporate Broking)
FTI Consulting (media enquiries in respect of Allocate)	Tel: [phone]
Matt Dixon / Chris Lane

About Allocate Software plc:

Allocate is the leading workforce and corporate governance software solutions provider for world-wide organisations with large, multi-skilled workforces. With a blue chip client base spanning the public and private sector, its key vertical markets include Healthcare and Defence.

The experience and in-depth knowledge gained in the UK and internationally has enabled Allocate to invest in developing innovative solutions that are relevant to the constantly evolving market needs of its customers. At the core of the business is Allocate's workforce optimisation software, which streamlines the whole workforce management of multi-disciplinary groups, across diverse locations.

Headquartered in London, Allocate provides services and support to its increasing international customer base through regional offices in the UK, Sweden, USA, Australia and Malaysia.

 

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