Further update on proposed acquisition of Sorted

Location Sciences Group PLC

20 December 2023

 

20 December 2023

This announcement contains inside information for the purposes of Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310.  With the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

Location Sciences Group PLC

("Location Sciences" or the "Company" or the "Group")

Further update on proposed acquisition of Sorted Holdings Limited

Further to the Company's announcement on 28 June 2023, Location Sciences (AIM: LSAI) provide a further update on its proposed acquisition of the entire issued share capital of Sorted Holdings Limited ("Sorted") (the "Proposed Acquisition").

The Company currently expects to publish an AIM admission document (the "Admission Document") in respect of the Proposed Acquisition by the end of January 2024 at the latest, following which point the Company will seek the restoration of trading of the Company's ordinary shares on AIM.

A considerable amount of work has already been carried out and the Company continues to diligently progress the transaction towards completion.

Simon Wilkinson, Chairman of Location Sciences, commented:

"We believe that the proposed acquisition of Sorted will deliver a transformational deal to the Company with the potential to deliver considerable future value to all our stakeholders. A huge amount of work has been carried out to progress this transaction in the last few months. We look forward to providing further updates in due course."

Carmen Carey, CEO of Sorted, commented:

"The management at Sorted is pleased with the collective progress made to date in relation to the proposed transaction while we continue to maintain our core focus of delivering a quality service to our customers."

The Company will release further announcements as and when appropriate.

For further information please contact:

Location Sciences Group PLC                                                                           via Allenby Capital

Simon Wilkinson, Chairman

Allenby Capital Limited (Nominated Adviser)                                            Tel: [phone]

David Hart

Vivek Bhardwaj

 

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