Statement re Press Comment

Iomart Group PLC

25 September 2024

 

25 September 2024

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

iomart Group plc

("iomart" or the "Group" or the "Company")

Statement re press speculation

The Board of iomart notes the recent press speculation and confirms that the Company is in exclusive talks with regard to the possible acquisition of Kookaburra Topco Limited ("Kookaburra"), the holding company of Atech Support Limited ("Atech"), a leading, highly accredited Microsoft Solutions Partner, delivering complex, multi-platform solutions, public cloud digital transformation and specialised managed security services to mid-sized enterprises (the "Possible Acquisition").   

There is no guarantee that the Possible Acquisition will proceed, however, if it were to proceed, it would be financed from the Company's existing cash resources and banking facilities and be classified as a Substantial Transaction under the AIM Rules for Companies.

The Directors of iomart believe that the Possible Acquisition of Atech would accelerate iomart's growth strategy, positioning the enlarged group as the leading provider of secure public, private and hybrid cloud services to mid-sized enterprises in the UK.

Further announcements will be made as and when appropriate.

This announcement contains inside information for the purposes of assimilated Regulation (EU) No.596/2014, as it forms part the laws of the United Kingdom by virtue of the European Union (Withdrawal) Act 2018 (as amended). The person responsible for releasing this announcement on behalf of the Company is Scott Cunningham, CFO.

For further information please contact:

iomart Group plc	Tel: [phone]
Lucy Dimes, Chief Executive Officer
Scott Cunningham, Chief Financial Officer
Investec Bank PLC (Nominated Adviser and Broker)	Tel: [phone]
Patrick Robb, Virginia Bull
Alma Strategic Communications	Tel: [phone]
Caroline Forde, Hilary Buchanan, Kinvara Verdon

About iomart Group plc

iomart Group plc (AIM: IOM) is a cloud computing and IT managed services business providing hybrid cloud infrastructure, data management, protection and cyber security services, and digital workplace capability. Our mission is simple: to make our customers unstoppable by enabling them to connect, secure and scale anywhere, anytime. From our portfolio of data centres we own and operate across the UK to connected sites around the world, our 500-strong team can design and deploy the right cloud solution for our customers.

 

END