Gresham Regulatory News (GHT)

17 Feb 2005 16:42

Gresham Computing PLC17 February 2005 Gresham Computing plc ("Gresham" or "the Company") Issue of Shares Gresham Computing plc announces that it has today issued 63,492 new ordinaryshares of 5 pence each, taking the total number of outstanding ordinary sharesof 5 pence each in the Company to 49,654,280. The new ordinary shares will rankpari passu in all respects with the existing issued shares. Application has beenmade to the UK Listing Authority to admit the new ordinary shares. Trading inthe new shares is expected to commence on 23 February 2005. The shares have been issued pursuant to the acquisition of the trade andintellectual property of IM Computing Limited, a company specialising in thecontrol of Instant Messaging. The maximum consideration payable in respect ofthis acquisition is £500,000, comprising £200,000 being the new shares issuedabove with a further, future, payment of up to £300,000 payable in cash orshares, at the option of the Company, according to the achievement of certainfinancial targets in respect of the business transferred within a 5 year periodfrom acquisition. Andrew Walton-Green, Chief Executive of Gresham Computing plc, commented: "Overthe past few months we have worked with IM Computing Limited in the area ofsecure real-time messaging and this opportunity has developed considerableinterest in the market, including our core financial services market. Weconsider this to be an exciting addition to our product set with considerablegrowth potential in our core market areas." -ends- For further information please contact: Gresham Computing plc 01489 555 500Andrew Walton-Green This information is provided by RNS The company news service from the London Stock Exchange