On 14 April 2010, Andor (AND.L) announced the acquisition of the trade and assets of Photonic Instruments Inc. and Imaginative Optics Inc. (together, "Photonic"). Andor is pleased to announce that following the successful completion of the next phase of product development, further consideration in the form of cash and Andor Shares has been paid to Imaginative Optics. The earn-out has been paid in the amount of US $367,500 (GBP £225,529) in total, made up of US $262,500 (GBP £161,092) in cash and the issue of 10,021 ordinary shares of 2p each in the capital of Andor.
As a result, an application has been made for the admission to AIM of 10,021new Ordinary Shares of 2p each in the Company ("Ordinary Shares"). The new Ordinary Shares rank pari passu with the Company's existing issued Ordinary Shares, and dealings are expected to commence on 8 August 2011.
Further consideration in the form of cash and Andor Shares of a maximum aggregate value of US $262,500 (GBP £161,092) may be payable by Andor under the earn-out provisions in the event that Imaginative Optics meets the final product development deliverables before 14 April 2012.
Following Admission, the Company's total issued share capital will comprise 30,687,460 Ordinary Shares. Therefore the total number of Ordinary Shares with voting rights is 30,687,460. This figure of 30,687,460 ordinary shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FSA's Disclosure and Transparency Rules.
For further information please contact:
Andor Technology plc
Conor Walsh / Lynda Campbell
Dominic Emery/Keith Anderson
Tel: 028 9023 7126
Tel: 020 7597 5047
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