31 May 2018 11:00
31 May 2018
appScatter Group plc
("appScatter" or the "Company")
General Meeting Statement
At the general meeting of the Company to be held at 11.00 a.m. today, the Chairman of the meeting will make the following statement in relation to the Company's conditional acquisition of Priori Data GmbH (the "Acquisition") and the proposed fundraise required to complete the Acquisition and to provide additional working capital resources for the enlarged group (the "Fundraise").
Acquisition and Fundraise Update
As described in the circular posted to shareholders on 15 May 2018, the Company has made application to HMRC for confirmation as to the applicability of tax relief under the Enterprise Investment Scheme and for venture capital trust investment ("EIS/VCT Confirmation"). Whilst EIS/VCT Confirmation remains outstanding, advice has been received by the Company suggesting that EIS/VCT Confirmation should be forthcoming in due course.
Accordingly, and whilst the Company continues to progress the Fundraise, the board of appScatter has agreed to a deferment to the planned Acquisition completion date to allow further time for the EIS/VCT Confirmation to be issued which, if granted, would allow time for EIS/VCT sensitive investors to consider participating in the Fundraise.
The long stop date under the sale and purchase agreement entered into in connection with the Acquisition (the "Acquisition Agreement") has therefore been extended to 15 June 2018. Whilst the parties will work towards completion of the Acquisition as soon as is practicable, there will be no further extensions to the long stop date of the Acquisition Agreement.
The information contained within this announcement is deemed by the Company to constitute inside information under the Market Abuse Regulation (EU) No. 596/2014.
For enquiries, please contact:
appScatter Group plc Philip Marcella, Chief Executive Officer Manish Kotecha, Finance Director
| Tel: 020 7466 5000 www.appscatter.com |
FTI Consulting Financial Public Relations Matt Dixon / Adam Davidson / Niamh Fogarty | Tel: 020 3727 1000 appScatter@fticonsulting.com
|
Smith & Williamson Corporate Finance Limited Nominated Adviser and Joint Broker Azhic Basirov / Ben Jeynes / David Jones
Stifel Joint Broker Fred Walsh / Neil Shah / Ben Maddison
| Tel: +44 (0)20 7131 4000 www.smithandwilliamson.com
Tel: +44 (0)20 7710 7600 www.stifel.com |
About appScatter Group plc
appScatter is a scalable B2B SaaS platform that allows paying users to distribute their apps to, and manage their apps on, multiple app stores. Additionally, the centralised platform enables app developers and publishers to manage and track performance of their own and competing apps across all of the app stores on the platform.