TIDMPTCM
RNS Number : 9050R
Porta Communications PLC
19 June 2018
19 June 2018
Porta Communications Plc
("Porta" or "the Company" or the "Group")
Acquisition of additional interest in Newgate Australia and
Newgate Hong Kong
Porta Communications Plc (AIM: PTCM) announces that, further to
its announcement on 4 August 2017, it has increased its equity
ownership in Newgate Communications PTY Ltd ("Newgate Australia")
to 66.71 per cent. The Company also announces that further to its
announcement on 7 December 2016, it has increased its equity
ownership in Newgate Communications (HK) Ltd ("Newgate Hong Kong")
to 80 per cent.
Newgate Australia
Pursuant to the terms of a shareholders' agreement between Porta
and the shareholders of Newgate Australia, Porta has acquired a
further 4.428 per cent of Newgate Australia, increasing Porta's
interest from 62.29 per cent to 66.71 per cent. The consideration
for this additional interest is GBP338,251, which is being
satisfied by the issue of 12,861,278 Ordinary Shares (the
"Consideration Shares") at a price of 2.63p per Ordinary Share,
being the average of the middle market quotation for each of the
five business days preceding the date of the Porta AGM. The
Consideration Shares are subject to a lock-in agreement which
provides for a six-month lock-in period and a further six-month
orderly market period.
Of these 12,861,278 Consideration Shares, 2,088,361 have been
issued to Brian Tyson, Joint CEO of Porta and Managing Partner of
Newgate Australia. Following this issue, Brian is interested in
4,534,614 Ordinary Shares of GBP0.01 each in the capital of the
Company representing 0.94 per cent. of the issued share capital of
Porta. Brian remains a 10.68 per cent. Shareholder in Newgate
Australia.
Newgate Hong Kong
Pursuant to the terms of a shareholder agreement between Porta
and the shareholders of Newgate Hong Kong, Porta has also acquired
a further 20 per cent of the share capital of Newgate Hong Kong,
increasing Porta's interest from 60 per cent to 80 per cent. The
consideration for the additional interest is GBP244,061 which is
being satisfied by the issue of 9,279,895 Ordinary Shares at an
issue price of 2.63p per Ordinary Share, being the average of the
middle market quotation for each of the last five business days
preceding the date of the Porta AGM. The Consideration Shares are
subject to a lock-in agreement which provides for a six-month
lock-in period and a further six-month orderly market period.
Application for admission to trading on AIM
Application has been made to the AIM market of the London Stock
Exchange ("AIM") for 22,141,173 new Ordinary Shares, which rank
pari passu with the Company's existing issued Ordinary Shares, to
be admitted to trading on AIM. Dealings on AIM are expected to
commence at 8:00 a.m. on or around 25 June 2018 ("Admission").
Total Voting Rights
For the purposes of the Financial Conduct Authority's Disclosure
Guidance and Transparency Rules ("DTRs"), following Admission the
issued share capital of the Company will comprise 483,031,842
Ordinary Shares with voting rights attached (one vote per share).
The Company does not hold any shares in treasury. This figure of
483,031,842 may be used by the Company's shareholders as the
denominator for the calculation by which they will determine
whether they are required to notify their interest in, or a change
to their interest in the share capital of Porta under the DTRs.
-- ends --
The information contained 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.
Enquiries to:
Porta Communications Plc
Gene Golembiewski, Executive Director
www.portacomms.com
+44 (0) 20 7680 6550
Newgate Communications (Media Enquiries)
Bob Huxford
Adam Lloyd
James Ash
+44 (0) 20 7680 6550
porta@newgatecomms.com
Grant Thornton UK LLP (Nominated Adviser)
Samantha Harrison
+44 (0) 207 383 5100
N+1 Singer (Broker)
Mark Taylor
Lauren Kettle
+44 (0) 20 7496 3000
Notes for Editors
-- Porta is a fully integrated communications and marketing
group with specialisms including financial, corporate and consumer
public relations, public affairs and research and multi-capability
marketing, brand and creative communications.
-- The group has offices in Abu Dhabi, Beijing, Brisbane,
Bristol, Canberra, Cardiff, Edinburgh, Hong Kong, London,
Manchester, Melbourne, Perth, Shanghai, Singapore and Sydney.
-- The brands and companies it owns are Newgate Communications,
Redleaf Communications, Publicasity and 2112 Communications.
-- Further information on Porta Communications is available at www.portacomms.com
The notifications below are made in accordance with the
requirements of the EU regulation on market abuse.
Template for notification and public disclosure of transactions
by persons discharging managerial responsibilities and persons
closely associated with them
1 Details of the person discharging managerial
responsibilities / person closely associated
---- --------------------------------------------------------------------
a) Name Brian William Tyson
---- ------------------------------ ------------------------------------
2 Reason for the notification
---- --------------------------------------------------------------------
a) Position/status Executive Director
---- ------------------------------ ------------------------------------
b) Initial notification Initial notification
/Amendment
---- ------------------------------ ------------------------------------
3 Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
---- --------------------------------------------------------------------
a) Name Porta Communications Plc
---- ------------------------------ ------------------------------------
b) LEI 213800E2NB62KDYYOM55
---- ------------------------------ ------------------------------------
4 Details of the transaction(s): section to
be repeated for (i) each type of instrument;
(ii) each type of transaction; (iii) each
date; and (iv) each place where transactions
have been conducted
---- --------------------------------------------------------------------
a) Description of Ordinary Shares of 1 pence
the financial each
instrument, type
of instrument
ISIN: GB00B71C7K21
Identification
code
----
b) Nature of the Acquisition of ordinary shares
transaction
---- ------------------------------ ------------------------------------
c) Price(s) and volume(s)
---- --------------- ----------------
Price(s) Volume(s)
---- --------------- ----------------
2.63p 2,088,361
--------------- ----------------
d) Aggregated information
----
- Aggregated volume
- Price
- Aggregated total
e) Date of the transaction 19 June 2018
---- ------------------------------ ------------------------------------
f) Place of the transaction London Stock Exchange, AIM
Market (XLON)
---- ------------------------------ ------------------------------------
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 rns@lseg.com or visit www.rns.com.
END
MSCLLFIERLIALIT
(END) Dow Jones Newswires
June 19, 2018 11:05 ET (15:05 GMT)
Porta Communications (LSE:PTCM)
Historical Stock Chart
From Apr 2024 to May 2024
Porta Communications (LSE:PTCM)
Historical Stock Chart
From May 2023 to May 2024