2 Aug 2018 11:42
IDE Group Holdings Plc
("IDE Group" or the "Company")
Notice of General Meeting and Posting of Circular
IDE Group Holdings plc, the mid-market network, cloud and IT Managed Services provider, announces that pursuant to the announcement made on 31 July 2018, it will be posting a circular (the "Circular") to shareholders on 3 August 2018 in connection with the proposed Transaction. The Circular will contain the notice of a general meeting to be held at 11.00 a.m. on 20 August 2018 at the offices of DAC Beachcroft LLP, 100 Fetter Lane, London EC4A 1BN.
The Company also announces, that as a result of the admission to trading on AIM on 1 August 2018 of the Firm Admission Shares , the Open Offer will raise gross proceeds of up to £0.55 million through the issue of up to 22,072,913 Open Offer Shares. Under the terms of the Open Offer qualifying shareholders are being given the opportunity to subscribe for Open Offer Shares at a price of 2.5 pence per share, payable in full on application and free of all expenses, pro rata to their existing shareholdings on the basis of 1 Open Offer Share for every 10 Existing Ordinary Shares. In addition, an excess application facility will enable qualifying shareholders, provided that they take up their basic entitlements under the Open Offer in full, to apply for additional Open Offer Shares to the extent that Open Offer Shares are not taken up by other qualifying shareholders. Full terms and conditions in relation to the Open Offer will be set out in the Circular.
The Circular and notice of general meeting will be made available on the Company's website, www.idegroup.com.
Where undefined, all capitalised terms in this announcement will have the same meaning as defined in the Fundraising and Open Offer announcement published on 31 July 2018.
EXPECTED TIMETABLE FOR PRINCIPAL EVENTS
2018 | |
Record Date and time for entitlements under the Open Offer | Close of business on 31 July |
Posting of the Circular, the Form of Proxy and the Application Form (where applicable) | 3 August |
Existing Ordinary Shares marked 'ex' entitlement by the London Stock Exchange | 3 August |
Basic Entitlements and Excess Entitlements credited to CREST accounts of Qualifying CREST Shareholders | 8.00 a.m. on 3 August |
Recommended latest time and date for requesting withdrawal of Basic Entitlements and Excess Entitlements from CREST | 4.30 p.m. on 13 August |
Latest time and date for depositing Basic Entitlements and Excess Entitlements into CREST | 3.00 p.m. on 14 August |
Latest time and date for splitting Application Forms (to satisfy bona fide market claims only) | 3.00 p.m. on 15 August |
Latest time and date for receipt of Forms of Proxy | 11.00 a.m. 16 August |
Latest time and date for receipt of completed Application Forms from Qualifying Shareholders and payment in full under the Open Offer or settlement of relevant CREST instructions (as appropriate) | 11.00 a.m. on 17 August |
General Meeting | 11.00 a.m. on 20 August |
Admission and dealings in the New Ordinary Shares expected to commence on AIM | 8.00 a.m. on 21 August |
Expected date for CREST stock accounts to be credited for New Ordinary Shares in uncertificated form | On or after 8.00 a.m. on 21 August |
Expected date for delivery of definitive share certificates for New Ordinary Shares to be held in certificated form | By 31 August |
IDE Group Holdings Plc Bill Dobbie, Interim Chairman Ian Smith, Executive Director
| Tel: +44 (0)344 874 1000 |
finnCap Limited Nominated Adviser and Broker Corporate finance: Jonny Franklin-Adams/ Scott Mathieson/ Hannah Boros ECM: Tim Redfern/ Richard Chambers
| Tel: +44 (0)20 7220 0500 |