i-documentsystems Group PLC
20 June 2003
i-documentsystems group plc ('the Company' or 'IDOX')
Notifiable Interest
The Board of IDOX announces that on 19th June 2003 it received notification from
Lombard Risk Management plc ('LRM') that LRM had sold 9,432,500 ordinary shares
of 1p each in the Company on 17th and 18th June 2003 representing 6.7% of the
issued share capital at prices of 8p and 8.75p per share.
LRM now holds 14,890,434 ordinary shares in the Company representing 10.58 % of
the issued share capital.
John Wisbey, Chairman of IDOX, is also Chairman and a significant shareholder in
LRM. In addition to Mr Wisbey's interest in LRM, he owns 20,050,000 ordinary
shares in IDOX in a personal capacity representing 14.24 % of the Company's
issued share capital.
Tim Bowen
CFO and Company Secretary, i-documentsystems group plc
20 June 2003
END
Notes:
IDOX is a leading e-government solutions provider, selling software, information
and managed services. IDOX floated on AIM in December 2000 and has since grown
to supplying products and services to over 100 UK local authorities.
IDOX's former parent company, LRM is a provider of financial trading and risk
management software and data to banks, hedge funds and other financial
institutions.
LRM has informed the company that it is currently in the process of fund-raising
and that this disposal is part of that funding programme; in addition LRM wishes
to ensure that its own equity funding is EIS eligible, and believes that this
disposal will be sufficient to remove a possible impediment to its EIS
eligibility.
This information is provided by RNS
The company news service from the London Stock Exchange
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