RE: RTO process23 Jan 2018 20:13
The Board will undertake in depth market analysis in a number of related areas initially within the telecoms industry using the Directors' experience and knowledge in the telecoms sector. Once a suitable target has been identified and a structure and valuation negotiated and agreed, financial and legal due diligence will be undertaken using professional advisers. Consideration is likely to be a combination of shares and cash.
The expected target value for an Acquisition will be relative to the size of the Placing and the market capitalisation of the Company given that the consideration is anticipated to be a combination of Ordinary Shares and cash.
Significant shareholders
On Admission, the following Shareholders will have a notifiable interest in the issued shares of the Company:
Name
Ordinary Shares on Admission
Percentage of enlarged share capital
Hargreave Hale
3,500,000
9.6%
Russell Backhouse1
2,275,000
6.2%
Mohamed Patel
2,000,000
5.5%
Courtney Investments
1,800,000
4.9%
MD Barnard
1,800,000
4.9%
Jonathan Hale
1,550,000
4.3%
Jason Mackay
1,300,000
3.6%
Paul Howard
1,175,000
3.5%
Optiva Securities
1,200,000
3.3%
Total
16,600,000
45.8%