Earn Out Consideration and Total Voting Rights

RNS Number : 7021K

IQGeo Group PLC

09 May 2022

 

IQGeo Group plc

(the "Company" or the "Group")

Issue of shares for OSPI Earn Out 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 application has been made for the 160,266 new ordinary shares of 2 pence in the Company ("Ordinary Shares") to be admitted to trading on AIM ("Admission") and it is expected that Admission will occur on or around 12 May 2022.

These new Ordinary Shares are being issued to the vendors of OSPInsight International Inc. ("OSPI"), as set out in the Company's announcement of 1 December 2020, recognising that OSPI has met certain recurring revenue criteria. In addition, the Group has also made a cash payment of US$295,625 in accordance with the acquisition agreement, and the parties have also agreed to satisfy a further consideration payment of $483,750 entirely in cash.

Following Admission, the Company's issued share capital will consist of 57,675,962 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 57,675,962. 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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