Clarity Commerce Solutions PLC
03 June 2004
Clarity Commerce Solutions Plc ('Clarity')
Deferred consideration paid to the vendors of Flex Systems Limited ('Flex')
Under the terms the Flex Systems Limited acquisition agreement dated 31 October
2001 additional consideration is payable to the vendors of Flex upon
satisfaction of certain pre tax profit targets in respect of the 12 month period
ended 31 October 2003.
The Board is pleased to announce that additional consideration has now been paid
by the issue of Loan Notes (principle amount £524,442), Bonus Loan Notes
(principle amount £175,000) and 517,241 new ordinary shares issued at a price of
58p per new ordinary share. Application has been made by Clarity for these new
ordinary shares to be admitted to trading on AIM, with dealings expected to
commence on 11 June 2004.
The Board of Clarity are pleased with the results that Flex have contributed,
and would like to thank the directors and staff of Flex for their efforts to
date. With the strong reputation that Flex have built up in their sector,
combined with the product integration and wider software portfolio being offered
by the Group, we believe that we can be equally confident about future trading.
END
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