Last checked at 2 Aug 2019 11:37
Adept4 plc
("Adept4", the "Group" or the "Company")
Movement in Share Price
The Board of Adept4 notes the recent rise in the Company's share price and confirms that it is in discussions to make an acquisition. As previously announced, following a challenging period for Adept4, the Board has been considering the strategic options open to the Company and believes that the proposed acquisition represents the best opportunity to return the business to growth for the benefit of all stakeholders. Alongside and conditional on the acquisition, the Board is also in discussions to reduce its level of debt.
There can be no guarantee that the acquisition or the reduction in debt will complete. A further announcement will be made in due course. The acquisition, if completed, would not constitute a reverse takeover, but would be classified as a substantial transaction under Rule 12 of the AIM Rules for Companies.
The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014.
For further information please contact:
Adept4 plc Simon Duckworth, Non-Executive Chairman | 01925 398 255 |
N+1 Singer (Nominated Adviser and Broker) Shaun Dobson / Jen Boorer |
020 7496 3000 |
MXC Capital Markets LLP Charlotte Stranner |
020 7965 8149 |
About Adept4
Adept4 delivers IT as a service to small and medium sized businesses across the UK. IT as a Service (ITaaS) provides you with exactly the amount of technology and support you need in accordance with business requirements, billed on a monthly basis, based on what is consumed.
Critically we underpin this delivery method with a 24 x 7 UK response team, strategic consulting, professional services and software development to provide exactly what organisations need from IT at any given time. Whether an infrastructure is based on legacy or emerging technologies we will ensure organisations have the flexibility, agility and cost efficiencies required to run their business effectively, all through a single trusted provider.
Adept4 is a public company quoted on the AIM market of the London Stock Exchange. The Company is headquartered in Warrington, with offices in Leeds and Aberdeen.