IDOX PLC Payment of Earnout and Allotment of Shares (7592J)
December 15 2022 - 2:00AM
UK Regulatory
TIDMIDOX
RNS Number : 7592J
IDOX PLC
15 December 2022
15 December 2022
Idox plc
("Idox", "the Company" or "the Group")
Payment of Earnout and Allotment of Shares
Idox plc (AIM: IDOX) a leading supplier of specialist
information management software and solutions to the public and
asset-intensive sectors, announces that it has issued 814,332 new
ordinary shares of 1 pence each in the Company ("Earn Out Shares")
as part payment of the second earn-out consideration in respect of
its acquisition of Aligned Assets Limited, as announced on 7 June
2021 ("Acquisition"). The second earn-out has been paid in full,
comprising GBP500,000 in cash and 814,332 shares. The earn-out was
based on achieving certain gross revenue targets during the
18-month period following the Acquisition. A final tranche of earn
out consideration in respect of product deliverables, of up to an
additional GBP500,000 in cash and an additional 814,332 shares may
become payable at the conclusion of the second year of ownership in
June 2023.
Applications have been made for the 814,332 Earn Out Shares to
be admitted to trading on AIM ("Admission"). It is expected that
Admission will occur at 8.00 a.m. on or around 16 December 2022
.
The total number of ordinary shares in issue following Admission
will be 453,338,220. The Company holds 1,426,219 ordinary shares in
treasury. Therefore, the total number of ordinary shares with
voting rights in the Company will be 451,912,001.
The above figure of 451,912,001 may be used by shareholders 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 Company under the FCA's Disclosure and
Transparency Rules.
For further information please contact:
Idox plc +44 (0) 870 333 7101
Chris Stone, Non-Executive Chairman
David Meaden, Chief Executive
Anoop Kang, Chief Financial Officer
Peel Hunt LLP (NOMAD and Broker) +44 (0) 20 7418 8900
Paul Gillam
James Smith
MHP Communications + 44 (0) 203 128 8276
Reg Hoare idox@mhpc.com
Ollie Hoare
Matthew Taylor
About Idox plc
For more information see www.idoxplc.com , @Idoxgroup
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END
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