TIDMSPA
RNS Number : 1586C
1Spatial Plc
11 April 2017
11 April 2017
1Spatial plc (AIM: SPA)
("1Spatial", the "Group" or the "Company")
Acquisition of Remaining Shares and Notification of Results
The Board of 1Spatial, the global spatial software, service and
data quality company which manages the world's largest spatial
data, today announces the acquisition of the remaining shares in
1Spatial Inc. (previously Laser Scan Inc.) and Sitemap Ltd.
Following these two issues of shares, 1Spatial owns 100% of both
companies with no consideration outstanding.
Acquisition of remaining shares in 1Spatial Inc.
The Company is pleased to announce that it has acquired the
remaining 27% of its US subsidiary, 1Spatial Inc. for GBP738,892
(US$918,000) payable in shares in accordance with the terms set out
in the original share purchase agreement (as announced on 3(rd)
February 2015). This acquisition further strengthens 1Spatial's
position in the US market which is a key focus and growth region
for the Group in the coming years.
1Spatial Inc. is the sole distributor of 1Spatial's geospatial
products and solutions in the Americas, and holds a significant
on-going contract with the US Census and a recently secured
contract with the State of Arizona, Department of Transport (the
"Department"). 1Spatial's 1Integrate solution will enable the
Department to automatically quality assure the information it
receives from multiple contributing government bodies within the
state which in turn will simplify and smooth the creation and
maintenance of their state-wide dataset so they can meet the
requirements set out by the Federal Highways Agency. Not only is
this process quicker and less costly, it is also more accurate and
this process allows for data to be sent at any time, thereby
meaning the dataset is updated throughout the year rather than on
an annual basis.
Following the acquisition Mary Brauer-Cox will be retiring as
President of 1Spatial Inc., to be replaced by Sheila Steffenson. Ms
Steffenson joined the business in March 2016 and has been managing
business development across the Americas with a key focus on our
1Integrate for ArcGIS solutions on the Esri ArcGIS Platform, as
part of 1Spatial's partnership with Esri Inc. She has over 25
years' experience in the Spatial market and has held senior
management and sales positions at Esri Inc., bringing significant
GIS knowledge and expertise to the business. Ms Brauer-Cox will
remain involved to support Ms Steffenson on a part-time basis for a
transitional period.
Acquisition of remaining shares in Sitemap Ltd.
1Spatial has today acquired the 51% of Sitemap Ltd. that it does
not already own for GBP0.2m in shares.
The Company's investment in Sitemap to date has funded the
development of a solution which locates and visualises sites which
best fit commercial and residential property developer needs. The
offering is still under development with market analysis, research
and business development opportunities being reviewed.
Issue of new ordinary shares to satisfy the above
As a result of the above, the Company announces that it has
issued 25,516,586 new ordinary shares in the share capital of the
Company (the "New Shares"), to satisfy the existing shareholders of
1Spatial US Inc. and Sitemap Ltd. Application has been made to the
London Stock Exchange for admission of the New Shares to trading on
AIM and dealings are expected to commence on or around 14 April
2017.
Following admission of the New Shares, the Company will have a
total of 763,652,144 ordinary shares in issue, including 3,196,356
ordinary shares which are held in treasury. Consequently, the total
issued share capital with voting rights is 760,455,788.
Full Year Results
1Spatial will report its Full Year Results for the year ended 31
January 2017 and give a comprehensive business update to the market
on 23 May 2017.
Claire Milverton, Acting CEO and CFO of 1Spatial said:
"I am pleased to announce that we have assumed full control of
1Spatial Inc., which positions us to achieve our strategic goals
and drive profitable growth across the Group.
1Spatial Inc. is a key channel to market for us in the US,
working alongside key customers and partners such as US Census and
Esri. I am delighted that Sheila Steffenson will take the role of
President at 1Spatial Inc. Under Sheila's leadership, we have a
strong team in place with key expertise to drive the growth across
the Americas market. The US operation has an excellent core
customer base, and we are seeing lots of potential opportunities
for 1Spatial solutions, in key industries such as transport,
government and utilities.
With the final acquisitions of 1Spatial Inc. and Sitemap Ltd we
now have full control of the strategic direction of all companies
across the Group and a clear roadmap to drive profitable
growth."
For further information, please contact:
0203 427
1Spatial plc 5004
Claire Milverton
0203 727
FTI Consulting 1000
Dwight Burden / Alex Le May
020 7496
N+1 Singer 3000
Shaun Dobson / Lauren Kettle
About 1Spatial
1Spatial plc is a group of market leading software and solutions
companies trading under the brands 1Spatial and EnablesIT
1Spatial
1Spatial manages the world's largest spatial data and works with
users and creators of the largest geospatial databases, helping
them collect, store, manage and interpret location-specific
information.
1Spatial's clients include national mapping and cadastral
agencies, utility and telecommunications companies, and government
departments including emergency services, defence and census
bureaus.
A leader in the field, 1Spatial has over forty years' experience
and a record of continual innovation and development. Today, with
an ever increasing reliance on spatial and location-critical data,
demand for our expertise has never been greater.
1Spatial operates globally, and has a portfolio of customers
both in the Commercial and Government sector, with headquarters in
Cambridge, UK and offices in the US, France, Belgium, Ireland and
Australia.
Enables IT
EnablesIT provides IT Managed Services. It offers public,
private and hybrid cloud offerings with everything from
Backup-as-a-Service through to managed desktops. Their end-to-end
IT capability provides everything from consultancy and project
management, to the installation of physical infrastructure.
Clients trust Enables IT to manage their systems and secure
their data. From Healthcare to Education and from Financial
Services to Legal, leading organisations rely on EnablesIT to
ensure their IT is an asset, not a liability.
To find our more, visit www.1spatial.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
ACQOKDDNPBKKOQD
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April 11, 2017 02:01 ET (06:01 GMT)
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