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Additional Listing / Rule 2.10

17 Nov 2010 07:00

RNS Number : 2890W
Focus Solutions Group PLC
17 November 2010
 



 

 

Press Release

17 November 2010

 

Focus Solutions Group plc

 

("Focus Solutions" or the "Company")

 

Additional Listing / Rule 2.10

 

Application has been made today for 224,718 ordinary shares of 10 pence each in the Company ("Ordinary Shares") to be admitted to trading on AIM in respect of the final deferred consideration payable for the purchase of The Coaching Platform Limited, together with a cash payment of £100,000. The purchase of The Coaching Platform Limited was completed on 22 December 2008. Admission is expected to become effective on 22 November 2010.

 

The Ordinary Shares will, on admission to AIM, rank pari passu with and will be identical in all respects to the existing Ordinary Shares of the Company.

 

In accordance with Rule 2.10 of The City Code on Takeovers and Mergers (the 'Code'), the Company confirms that it has 30,009,748 Ordinary Shares in issue and admitted to trading on the London Stock Exchange under ISIN code GB0001505303.

 

The above figure of 30,009,748 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 Company, under the Disclosure and Transparency Rules.

 

Dealing Disclosure Requirements

 

Under Rule 8.3(a) of the Code, any person who is interested in 1% or more of any class of relevant securities of an offeree company or of any paper offeror (being any offeror other than an offeror in respect of which it has been announced that its offer is, or is likely to be, solely in cash) must make an Opening Position Disclosure following the commencement of the offer period and, if later, following the announcement in which any paper offeror is first identified. An Opening Position Disclosure must contain details of the person's interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) the offeree company and (ii) any paper offeror(s). An Opening Position Disclosure by a person to whom Rule 8.3(a) applies must be made by no later than 3.30 pm (London time) on the 10th business day following the commencement of the offer period and, if appropriate, by no later than 3.30 pm (London time) on the 10th business day following the announcement in which any paper offeror is first identified. Relevant persons who deal in the relevant securities of the offeree company or of a paper offeror prior to the deadline for making an Opening Position Disclosure must instead make a Dealing Disclosure.

 

Under Rule 8.3(b) of the Code, any person who is, or becomes, interested in 1% or more of any class of relevant securities of the offeree company or of any paper offeror must make a Dealing Disclosure if the person deals in any relevant securities of the offeree company or of any paper offeror. A Dealing Disclosure must contain details of the dealing concerned and of the person's interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) the offeree company and (ii) any paper offeror, save to the extent that these details have previously been disclosed under Rule 8. A Dealing Disclosure by a person to whom Rule 8.3(b) applies must be made by no later than 3.30 pm (London time) on the business day following the date of the relevant dealing. If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire or control an interest in relevant securities of an offeree company or a paper offeror, they will be deemed to be a single person for the purpose of Rule 8.3.

 

Opening Position Disclosures must also be made by the offeree company and by any offeror and Dealing Disclosures must also be made by the offeree company, by any offeror and by any persons acting in concert with any of them (see Rules 8.1, 8.2 and 8.4). Details of the offeree and offeror companies in respect of whose relevant securities Opening Position Disclosures and Dealing Disclosures must be made can be found in the Disclosure Table on the Takeover Panel's website at www.thetakeoverpanel.org.uk, including details of the number of relevant securities in issue, when the offer period commenced and when any offeror was first identified. If you are in any doubt as to whether you are required to make an Opening Position Disclosure or a Dealing Disclosure, you should contact the Panel's Market Surveillance Unit on +44 (0)20 7638 0129.

 

- Ends -

For further information:

Focus Solutions Group plc

Richard Stevenson, Chief Executive

Tel: +44 (0) 1926 468300

Martin Clements, Finance Director

www.focus-solutions.co.uk

 

finnCap

Marc Young / Charlotte Stranner

Tel: +44 (0) 20 7600 1658

Simon Starr (broking)

www.finncap.com

 

Media enquiries:

Abchurch

Heather Salmond / Joanne Shears / Mark Dixon

Tel: +44 (0) 20 7398 7709

Joanne.shears@abchurch-group.com

www.abchurch-group.com

 

Notes to editors:

About Focus Solutions Group plc

Focus Solutions is an established and proven supplier of multi-channel distribution solutions to the global financial services industry.

Focus has delivered over 100 complex front office projects with multiple integration points and partners to a blue chip client base including 8 out of the top 10 UK Life & Pension providers, a number of leading bancassurers including the likes of HSBC and Irish Life, significant wealth management players such as St James's Place and a number of mortgage providers. The technology truly enables straight through processing whilst providing an engaging client and adviser experience to submit and service business electronically.

focus:360° is at the core of all client implementations providing a single, agile, multi-channel technology platform. Focus has brought together three key areas of expertise: software, consultancy and service delivery. This totally integrated approach means clients can distribute any product across any channel. At the same time they can maintain an enterprise-wide view of the customer value and risk.

For further information on Focus Solutions, please visit www.focus-solutions.co.uk

- Ends -

This information is provided by RNS
The company news service from the London Stock Exchange
 
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