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Pin to quick picksAltitude Group Regulatory News (ALT)

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Update: Admission of Consideration Shares

16 Jan 2019 15:31

RNS Number : 3007N
Altitude Group PLC
16 January 2019
 

16 January 2019

 

Altitude Group plc

("Altitude" or the "Company")

 

Update: Admission of Consideration Shares

and

Completion of Acquisition

 

Altitude Group plc (AIM: ALT), the operator of a leading marketplace for personalised products announces that the independent valuation report of the non-cash consideration required under the Companies Act 2006 (the "Valuation Report") is not yet completed regarding AI Mastermind. This will effect the allotment and admission of the 860,294 conditional Consideration Shares.

As such, while the 5,334,525 First Placing Shares will still be admitted to trading on 17 January 2019, the 860,294 Consideration Shares will be delayed until receipt of the Valuation Report.

A further update regarding the Consideration Shares will be provided upon the Company's receipt of the Valuation Report.

Completion of the Acquisition

Notwithstanding the above, the Acquisition will complete at the same time as completion of the First Placing.

Total Voting Rights

Application has therefore been made to the London Stock Exchange for the 5,334,525 Placing Shares to be admitted to trading on AIM. It is still expected that the First Placing Shares will be admitted to trading at 8.00 a.m. on 17 January 2019. It is expected that the Second Placing Shares will be admitted to trading on or around 8.00 a.m. on 1 February 2019 and a further announcement confirming this will be made by the Company after the conclusion of the General Meeting on 31 January 2019.

After First Admission, the total number of Ordinary Shares in issue will be 60,024,159 and the total number of voting rights will therefore be 60,024,159. 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 share capital of the Company under the FCA's Disclosure and Transparency Rules.

The Consideration Shares will be admitted upon the Company's receipt of the required Valuation Report and a further announcement will be made in due course.

Unless otherwise defined herein, capitalised terms used in this announcement shall have the same meanings as defined in the Company's announcement released on 11 January 2019.

For further information please contact:

 

Altitude Group plc

Nichole Stella, Chief Executive Officer

Graeme Couturier, Chief Financial Officer

Peter Hallett, Non-Executive Chairman

 

Via Instinctif - 020 7457 20200

finnCap Ltd (Nominated Adviser & Broker)

Jonny Franklin-Adams (Corporate Finance)

Scott Mathieson (Corporate Finance)

Richard Chambers (ECM)

020 7220 05000

 

Instinctif Partners (Financial PR)

Matthew Smallwood

Chantal Woolcock

020 7457 20200

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
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