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3 Dec 2015 16:14
3 December 2015
ClearStar, Inc.
("ClearStar" or the "Company")
Rule 17 Notification
The following information is disclosed under paragraph (g), Schedule 2 and AIM Rule 17 of the AIM Rules for Companies.
The Company announces that Wildnet Limited, a company of which Barney Quinn, Non-Executive Chairman of ClearStar, was recently a director, was put into Creditors Voluntary Liquidation on 3 December 2015.
Wildnet was a small private software company in which Mr Quinn had previously invested. It has outstanding liabilities owed to third party and trade creditors of approximately £17,000. In addition, Wildnet has an outstanding shareholder loan note of approximately £1.1 million. Wildnet is being wound up following a decision by its shareholders that they no longer wish to support the business.
Enquiries:
ClearStar |
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Robert Vale, Chief Executive Officer David Pattillo, Chief Financial Officer | +1 770 416 1900
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Cenkos Securities (Nominated Adviser and Broker) |
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Max Hartley, Corporate Finance Julian Morse, Sales | +44 20 7397 8900 |
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Luther Pendragon |
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Harry Chathli, Claire Norbury, Oliver Hibberd | +44 20 7618 9100 |
About ClearStar
ClearStar is a technology and service provider to the background check industry, supporting background screening companies, employers and employees with their recruitment and employment application decisions. ClearStar provides employment intelligence to its clients through a suite of IT applications for day-to-day use in their business. Employment intelligence aims to improve business insight to support better recruitment and other decisions affecting employees generally, by increasing the quality, reliability and visibility of information available to management.
The Directors of ClearStar believe that the Company offers one of the most complete independent IT application suites that provide employment intelligence. The suite comprises of a collection of applications which utilises data from over 3,000 sources ranging from résumés to records with local authorities. ClearStar's primary business involves searching the relevant source of data for specific employment intelligence information based on clients' bespoke requirements for its employment applicants. ClearStar extracts the required input and this information is then processed, allowing the client to make a swift decision in respect of the relevant applicant, thereby minimising bottlenecks in the hiring process. ClearStar's 'Aurora' platform has delivered employment intelligence to over 27,000 employers, including many global blue-chip companies.
www.clearstar.net
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