Payment of Earnout and Allotment of Shares

RNS Number : 7592J

IDOX PLC

15 December 2022

 

15 December 2022

Idox plc 

("Idox", "the Company" or "the Group")

Payment of Earnout and Allotment of Shares

Idox plc (AIM: IDOX) a leading supplier of specialist information management software and solutions to the public and asset-intensive sectors, announces that it has issued 814,332 new ordinary shares of 1 pence each in the Company ("Earn Out Shares") as part payment of the second earn-out consideration in respect of its acquisition of Aligned Assets Limited, as announced on 7 June 2021 ("Acquisition"). The second earn-out has been paid in full, comprising £500,000 in cash and 814,332 shares.  The earn-out was based on achieving certain gross revenue targets during the 18-month period following the Acquisition. A final tranche of earn out consideration in respect of product deliverables, of up to an additional £500,000 in cash and an additional 814,332 shares may become payable at the conclusion of the second year of ownership in June 2023.

Applications have been made for the 814,332 Earn Out Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will occur at 8.00 a.m. on or around 16 December 2022 .

The total number of ordinary shares in issue following Admission will be 453,338,220. The Company holds 1,426,219 ordinary shares in treasury. Therefore, the total number of ordinary shares with voting rights in the Company will be 451,912,001.

The above figure of 451,912,001 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure and Transparency Rules.

 For further information please contact:

Idox plc                                                                 [phone]

Chris Stone, Non-Executive Chairman
David Meaden, Chief Executive
Anoop Kang, Chief Financial Officer

Peel Hunt LLP (NOMAD and Broker)    [phone]

Paul Gillam

James Smith

MHP Communications                                  + 44 (0) 203 128 8276

Reg Hoare                                                             [e-mail]
Ollie Hoare

Matthew Taylor

About Idox plc

For more information see  www.idoxplc.com , @Idoxgroup

 

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