TIDMSKHG
RNS Number : 5267Z
Sky High PLC
16 March 2012
SKHG
16 March 2012
SKY HIGH PLC
Result of General Meeting
Completion of Acquisition, Placing and Capital
Reorganisation
Appointment of Directors
Sky High Plc ('Sky High' or the 'Company'), the data collection
and analysis group, is pleased to announce that at its General
Meeting held today all resolutions were duly passed. The
resolutions were to approve, inter alia, the acquisition of the
business and certain assets of Count on Us Limited (the
Acquisition"), a placing of to raise approximately GBP371,000 (the
"Placing") and a capital reorganisation whereby the nominal value
of the existing ordinary shares of 10p each are redesignated as
ordinary shares of 1p each (the "Capital Reorganisation"). Details
of the Capital Reorganisation, Acquisition and Placing were set out
in a circular to shareholders dated 20 February 2012.
The Acquisition, the consideration for which was satisfied
entirely in new ordinary shares in Sky High, was also conditional
on the raising of up to GBP500,000 of additional working capital.
This condition has been satisfied through the raising of
GBP371,000, before expenses, through the Placing with the balance
coming from additional debt facilities agreed with the Company's
bankers.
Application has been be made to the London Stock Exchange for
the new ordinary shares resulting from the Capital Reorganisation,
the Acquisition and the Placing, to be admitted to trading on AIM.
It is expected that admission will become effective at 8.00 a.m. on
19 March 2012 ("Admission").
Voting rights
In accordance with the Disclosure and Transparency Rules (DTR
5.6.1R) the Company hereby notifies the market that immediately
following admission of the new ordinary shares its issued share
capital will consist of 21,517,946 Ordinary Shares. The Company
does not hold any shares in treasury. Shareholders may use these
figure 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 FSA's Disclosure
and Transparency Rules.
Appointment of new Directors
Following completion of the Acquisition, the Company has today
appointed Sir John Madejski and Nick Lanigan as non-executive
directors of the Company.
The following details are disclosed in accordance with in
accordance with Schedule 2(g) of the AIM Rules
Sir Robert John Madejski (aged 70)
His current directorships and partnerships are as follows:
Ark Hotels Limited
Benhamgoodheadprint Limited
Clearview Traffic Group Limited
Croftchase Limited
Goodhead Group Limited
John Madejski Academy
Madejski Ark LLP
Madejski Communications Limited
Madejski Stadium Hotel Limited
Madejski Hotel (Galapagos) Limited
The Reading Football Club Limited
Reading Broadcasting Company Limited
Reading F.C. Limited
The Reading Football Club (Holdings) plc
Sackville Properties Limited
Sackville Properties (Cadogan House)Limited
Sackville Property Developments Limited
Sackville Property Investments Limited
Sackville Property Management Limited
Sackville Developments (Warwick) Holdings Limited
The Leatherne Bottel Limited
Wealth Index Limited
Other directorships he has held in the last five years are as
follows:
Milton Park Developments (Egham) Holdings Limited
Sackville Developments (Reading) Limited
Smiths Security Services Limited
Following Admission, Sir John Madejski, will hold 1,500,000
ordinary shares in Sky High representing approximately 7 per cent
of the Company's issued share capital. In addition, Count on Us
Limited which is owed by Clearview Limited of which Sir John
Madejski is the ultimate controlling party, holds 4,135,999
ordinary shares in Sky High representing approximately 19.2 per
cent of Sky High's issued share capital
Nicholas Anthony Lanigan (aged 45)
He is currently a director of Golden River Traffic Limited and
Clearview Traffic Group Limited
There are no other disclosures required in accordance with
Schedule 2(g) of the AIM Rules in respect of either Sir John
Madejski or Mr Lanigan.
Commenting on the Acquisition, Mark Mattison, Chief Executive of
Sky High, said
'Since the 20(th) of February I have had the opportunity to
visit the COU offices and meet most of their staff and I am
impressed by the enthusiasm for bringing the two companies
together. I am excited about the prospect of delivering even better
quality services to the enlarged customer base and the
opportunities that the enlarged company will have in the future. I
am also delighted to welcome Sir John and Nick to our Board.'
Enquiries:
Contacts:
Sky High plc www.skyhighplc.co.uk
Mark Mattison, Chief Executive +44 (0) 1937 833 933
Alex Johnson, Finance Director +44 (0) 1937 833 933
WH Ireland Limited www.wh-ireland.co.uk
Mike Coe / Marc Davies +44 (0) 117 945 3470
This information is provided by RNS
The company news service from the London Stock Exchange
END
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