Deferred Consideration and Total Voting Rights

RNS Number : 4196W

IQGeo Group PLC

22 December 2021

 

IQGeo Group plc

(the "Company" or the "Group")

Issue of shares for OSPI Deferred Consideration and Total Voting Rights

IQGeo Group plc (AIM: IQG), a leading developer of geospatial productivity and collaboration software for telecoms and utility network operators, announces that as set out in the stock purchase agreement to purchase OSPInsight International Inc. ("OSPI") dated 30 November 2020 that closed on 21 December 2020, 173,446 ordinary shares of 2 pence in the Company ("Ordinary Shares") are being issued collectively to the three sellers of OSPI as part of the deferred consideration for OSPI.  The three sellers will also receive $295,625 USD between them as the other element of the deferred consideration due, which will be paid from the company's cash reserves.

Application has been made for the 173,446 new Ordinary Shares to be admitted to trading on AIM ("Admission") and it is expected that Admission will occur on or around 29 December 2021.

Following Admission, the Company's issued share capital will consist of 57,515,696 Ordinary Shares with one voting right each. The Company does not hold any Ordinary Shares in treasury. Therefore, the total number of Ordinary Shares and voting rights in the Company will be 57,515,696. With effect from Admission, this figure may be used by shareholders in the Company 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 share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

For further information contact:

IQGeo Group plc     [phone]

Richard Petti

Haywood Chapman

finnCap Ltd                                                                           [phone]

Henrik Persson, Seamus Fricker (Corporate Finance)

Tim Redfern, Richard Chambers (ECM)

Notes to editors

IQGeo's end-to-end geospatial software improves productivity and collaboration across enterprise planning, design, construction, maintenance and sales processes for telecoms and utility network operators. Our mobile-first enterprise solutions create and maintain, an accurate view of complex network assets that is easily accessible by anyone, wherever and whenever needed.

Specialised applications combined with our open IQGeo Platform help network operators create a single source of network truth to meet their digital transformation ambitions and operational KPIs. Our award-winning, cloud-enabled solutions save time and money, and improve safety and productivity, while enhancing customer satisfaction.

With over 70,000 active software users, IQGeo has an established and rapidly growing customer base with telecoms and utility companies worldwide.

IQGeo trades on AIM with the ticker IQG.

For additional information please visit www.iqgeo.com

 

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