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Xpediator PLC (XPD)

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Wednesday 15 May, 2019

Xpediator PLC

Issue of Equity

RNS Number : 0386Z
Xpediator PLC
15 May 2019
 

15 May 2019

The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

XPEDIATOR PLC

("Xpediator" or "the Company" or "the Group")

Issue of Equity

Xpediator, (AIM: XPD), a leading provider of freight management services across the UK and Europe, announces that pursuant to the acquisition of Easy Managed Transport Limited ("EMT"), as described in the Company's admission document dated 8 August 2017, a final deferred consideration payment of £831,250 for the twelve month period to 28 February 2019, has become payable to the vendors of EMT, Michael Mehmet and his wife, Paula Mehmet. The deferred consideration payment will be settled by the issue of 1,258,466 new ordinary shares in the Company to Michael Mehmet and the issue of 397,410 new ordinary shares in the Company to Paula Mehmet (the "Deferred Consideration Shares").

Details of the Deferred Consideration Shares

Application has been made for the Deferred Consideration Shares, which will rank pari passu with the existing ordinary shares of 5 pence each in the Company ("Ordinary Shares"), to be admitted to trading on the AIM market of the London Stock Exchange ("Admission"). It is expected that Admission will occur at 8.00am on or around 16 May 2019.

Michael and Paula Mehmet have agreed not to dispose of the Deferred Consideration Shares for a period of twelve months from the date of issue without the prior consent of the Company's nominated adviser and joint broker, SP Angel Corporate Finance LLP, and the Company's joint broker, Cantor Fitzgerald Europe.

Total Voting Rights

Following Admission, the Company's issued ordinary share capital will comprise 135,369,480 Ordinary Shares and 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 in their interest in, the share capital of the Group under the FCA's Disclosure and Transparency Rules.

Enquiries

Xpediator plc

Tel: +44 (0)330 043 2395

Stephen Blyth, Chief Executive Officer

Email: [email protected]

SP Angel Corporate Finance LLP (Nominated Advisor & Joint Broker)

Tel: +44 (0)20 3470 0470

Jeff Keating

 

Caroline Rowe

 

Cantor Fitzgerald Europe (Joint Broker)

Tel: +44 (0)20 7894 7000

David Foreman, Michael Boot (Corporate Finance)

 

Caspar Shand Kydd (Sales)

 

Novella Communications (Financial Public Relations)

Tel: +44 (0)20 3151 7008

Tim Robertson

 

Fergus Young

 

 

About Xpediator:

Xpediator is a well-established international provider of freight management services. Established in 1988 by CEO Stephen Blyth today the Group's International network of offices provides road, sea and air freight services, together with logistics and warehousing in the UK and Romania. The business offers integrated freight management within the supply chain logistics and fulfilment sector, through their three main areas: freight forwarding, logistics & warehousing and transport services. With headquarters in Braintree, Essex and country offices in nine CEE countries across 31 sites, the Group currently employs 938 people and was successfully listed on London's AIM market in August 2017.

For more information, please visit: www.xpediator.com.

Alternatively, do follow us on Twitter at @Xpediator or find us on LinkedIn at Xpediator Plc.


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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