IDOX PLC
05 June 2007
IDOX plc
5 June 2007
IDOX plc ('IDOX' or the 'Company')
Re-Admission, Conditional Placing and Acquisition
The Board of IDOX plc (AIM:IDOX), the information management company,
specialising in the development and delivery of software products, services and
people predominantly to the public sector, is pleased to announce that it has
conditionally raised £11 million (before expenses) through a placing of
146,666,667 new ordinary shares of 1p at 7.5p per share by Noble & Company
Limited, IDOX's nominated adviser and broker.
First Admission and the commencement of dealings in relation to 253,955,900
ordinary shares - being the 195,260,900 ordinary shares in issue immediately
prior to the placing and 58,695,000 new ordinary shares issued as part of the
placing - took place today. It is expected that Second Admission and
commencement of dealings in relation to a further 87,971,667 new ordinary shares
will take place at 8am on 6 June 2007. Subsequent to this, completion of the
acquisition of CAPS Solutions Limited ('CAPS') will occur on the settlement by
IDOX of the £21 million consideration, as announced on 10 May 2007.
Following completion of the acquisition of CAPS the Company will have
341,927,567 ordinary shares of 1p in issue.
Martin Brooks, Chairman of IDOX, said:
'The acquisition of CAPS is a transforming transaction for IDOX, creating a
strong, profitable business with positive cash flow and significant recurring
revenue streams. We will be able to provide our many local authority and other
customers with a significantly enhanced capability going forward. I am
particularly pleased that Steve Ainsworth and his team from CAPS are joining us.
Steve will be taking on the role of Chief Executive Officer on completion of the
acquisition, which I have been fulfilling on an interim basis for the last
year.'
For further information, call:
IDOX plc
Martin Brooks, Chairman 0870 333 7101
Richard Kellett-Clarke, CFO 0870 333 7101
Noble & Company Limited
Matthew Hall, Director 020 7763 2200
This information is provided by RNS
The company news service from the London Stock Exchange
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