Issue of Deferred Consideration Shares

RNS Number : 4641T

Proxama PLC

29 March 2016

 

Proxama PLC

("Proxama" or the "Company")

Issue of Deferred Consideration Shares

Director/Management Seller Shareholdings

Total Voting Rights

London, 30 March 2016: Proxama PLC (AIM: PROX), a leading mobile proximity marketing company, announces that it has issued a total of 20,892,669 new Ordinary Shares ("Ordinary Shares") in satisfaction of the deferred consideration payable to the management ("Management Sellers") of Aconite Technology Limited ("Aconite").

On 5 December 2014, Proxama announced the acquisition of Aconite for a consideration of £2.06 million, satisfied by the issuance of 68,666,667 new ordinary shares at an issue price of 3 pence per share (the "Consideration Shares"). Pursuant to the terms of the agreements for the acquisition of Aconite, the Company entered into an irrevocable commitment that of the 68,666,667 new Ordinary Shares, the Deferred Consideration Shares to which Management Sellers were entitled, comprising a total of 20,892,669 shares ("Deferred Consideration Shares"), would be issued and allotted on 31 March 2016. Accordingly, application has been made for admission of the Deferred Consideration Shares to trading on AIM and dealings are expected to commence on 1 April 2016. The Deferred Consideration Shares will rank pari passu with all of the Company's existing ordinary shares of 1 pence each.

Director/Management Seller Shareholdings

The following directors and Management Sellers will be allotted Deferred Consideration Shares:

Name	Director/ Management Seller	Deferred Consideration Shares Issued	Holding following issue of Deferred Consideration Shares	% Enlarged Share Capital
Mike Woods	Director	17,439,021	17,439,021	1.68%
Rob Macmillan	Management Seller	2,468,029	2,468,029	0.24%
Patrick Regester	Management Seller	486,143	686,143	0.07%
David Jacks	Management Seller	499,476	499,476	0.05%

Total Voting Rights

Following Admission, the Company will have 1,040,437,236 Ordinary Shares in issue with each Ordinary Share carrying the right to one vote. There are no Ordinary Shares currently held in treasury. The total number of voting rights in the Company therefore will be 1,040,437,236 and this figure may be used by shareholders as the denominator for the calculations by which they determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure Rules and Transparency Rules.

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Enquiries:

Proxama PLC John Kennedy	020 3668 2888
Peel Hunt LLP (Nominated Adviser and Broker)                Richard Kauffer Euan Brown	020 7418 8900
Novella (Financial PR) Tim Robertson Ben Heath	020 3151 7008

 

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