RTS NetWorks Group PLC
20 July 2001
RTS Networks Group Plc ('RTSNG') is pleased to announce that in the twelve
month period since acquisition, its wholly-owned subsidiary, Axida Limited
('Axida'), has achieved the performance criteria set out in the acquisition
agreement dated 7 July 2000 ('the Agreement').
Accordingly, in accordance with the terms of the Agreement, the vendors of
Axida (the 'Axida Vendors') are entitled to receive an earn out payment of
£1,000,000 as disclosed in the Annual Report for the period ended 31 December
2000.
The Agreement provides for the amount payable to be satisfied by the allotment
of shares. RTSNG has, therefore, allotted to the Axida Vendors 922,083
ordinary shares of 1p each, credited as fully paid up, at a price of £1.0845
per share.
Application will be made for the shares to be admitted to AIM and it is
anticipated that dealings will commence on 26 July 2001.
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