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

+44(0)28 3025 2242

www.firstderivatives.com



Charles Stanley Securities

(Nominated Adviser and Broker)

Russell Cook

Carl Holmes

+44 (0)20 7149 6000



Goodbody Corporate Finance
(ESM Adviser and Broker)

Linda Hickey

Finbarr Griffin

+353 1 667 0420



Walbrook PR

Bob Huxford

+44 (0)20 7933 8780

bob.huxford@walbrookpr.com

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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