Secures a majority shareholding in Kx Systems

RNS Number : 8624V

First Derivatives PLC

31 October 2014

 



31 October 2014

First Derivatives PLC

("First Derivatives", the "Group" or the "Company")

First Derivatives secures a majority shareholding in Kx Systems in transformational deal

First Derivatives (AIM:FDP.L, ESM:FDP.I), a leading provider of software and consulting services to the financial services industry, announced on the 17 October 2014 that it had agreed to acquire up to a further 46.47% of Kx Systems ("Kx") thereby increasing the Company's shareholding to approximately 65.2% on a fully diluted basis. 

In accordance with the terms of the acquisition the Company has today issued and allotted 1,247,308 new ordinary shares in the Company (the "Consideration Shares") to the vendors of Kx, which represents approximately 6.2% of the Company's issued share capital.

Application has been made to the London Stock Exchange and the Irish Stock Exchange for the Consideration Shares to be admitted to trading on AIM and ESM which is expected to be on 3 November 2014.

Enquiries:

First Derivatives plc Brian Conlon, Managing Director Graham Ferguson, Finance Director Ian Mitchell, Head of Investor Relations	[phone] www.firstderivatives.com
Charles Stanley Securities (Nominated Adviser and Broker) Russell Cook Carl Holmes	[phone]
Goodbody Corporate Finance (ESM Adviser and Broker) Linda Hickey Finbarr Griffin	[phone]
Walbrook PR Bob Huxford	[phone] [e-mail]

 

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