LCG Group: Issue of Equity
LCG Group: In line with its short-term strategy of developing new technology, the Company is pleased to announce that it has finalised the acquisition of Surecom Limited (“Surecom”), a Cypriot based software development company from Spotware Systems Limited. The acquisition of Surecom will facilitate the further development and enhancement of the Company’s dealing platforms and new advanced technologies which, the Directors believe, will help position the Company as a leading provider of online trading services. The Company will issue 3,754,614 new ordinary shares (“New Ordinary Shares”) in the Company in consideration for the acquisition of Surecom.
Application has been made for the 3,754,614 New Ordinary Shares to be admitted to trading on AIM (“Admission”). It is expected that the Admission will occur on 9 October 2015. Following Admission, the Company will have 79,846,890 ordinary shares in issue, of which 1,000,000 are held in Treasury. The total number of voting rights in the Company will therefore be 78,846,890. Following Admission, this figure (78,846,890) may be used by shareholders as the denominator for the calculations by which they can determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA’s Disclosure Rules and Transparency Rules.
Source: LCG Group