Shearwater Group PLC Release of Holdback Consideration Shares (9290Y)
September 14 2020 - 8:29AM
UK Regulatory
TIDMSWG
RNS Number : 9290Y
Shearwater Group PLC
14 September 2020
14 September 2020
SHEARWATER GROUP PLC
("Shearwater", or the "Company")
Release of Holdback Consideration Shares
Issue of Equity
Shearwater Group plc (AIM: SWG), announces that in connection
with the acquisition of GeoLang Holdings Limited announced by
Shearwater on 4 April 2018, it has issued and allotted the final
129,602 new ordinary shares of 10 pence each in the capital of the
Company (the " New Ordinary Shares ") to certain of the sellers of
GeoLang Holdings Limited, conditionally on admission to trading on
AIM ("Admission"). These New Ordinary Shares, originally held back
at the time of the acquisition, are now being issued, following the
expiry of the two-year warranty period, in accordance with the sale
and purchase agreement for the acquisition.
Application has been made for the 129,602 New Ordinary Shares to
be admitted to trading on AIM and Admission is expected to take
place on 18 September 2020. The New Ordinary Shares will, when
issued, rank pari passu with the existing ordinary shares in
issue.
Total Voting Rights
Following Admission, the issued share capital of the Company
will comprise 23,801,419 ordinary shares of 10p each, none of which
are held in treasury. Accordingly, on Admission, the total number
of voting rights in the Company will therefore be 23,801,419. This
figure 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 Guidance and Transparency
Rules.
Enquiries:
Shearwater Group plc www.shearwatergroup.com
David Williams c/o Alma PR
Phil Higgins
Cenkos Securities plc - NOMAD and
Joint Broker
Max Hartley / Ben Jeynes - NOMAD
Julian Morse / Michael Johnson -
Sales +44 (0) 20 7397 8900
Berenberg - Joint Broker
Matthew Armitt / Mark Whitmore +44 (0) 20 3207 7800
Alma PR shearwater@almapr.co.uk
Caroline Forde / Susie Hudson / +44 (0) 20 3405 0205
Harriet Jackson
About Shearwater Group plc
Shearwater Group plc is an award-winning organisational
resilience group that provides cybersecurity, advisory and managed
security services to help assure and secure businesses in a
connected global economy.
The Group's comprehensive cybersecurity solutions and services
maintain trust between users, assure the protection of information
assets and critical infrastructure, and support organisations'
operational effectiveness. Its capabilities include identity and
access management and data security, cybersecurity solutions and
managed security services, and security governance, risk and
compliance.
The Group is headquartered in the UK with offices in the US, UK
and Europe, serving customers across the globe who are active in a
broad spectrum of industries.
Shearwater shares are listed on the London Stock Exchange's AIM
under the ticker "SWG". For more information, please visit
www.shearwatergroup.com.
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END
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