Last checked at 15 Dec 2022 07:00
Idox plc
("Idox", "the Company" or "the Group")
Payment of Earnout and Allotment of Shares
Idox plc (AIM: IDOX) a leading supplier of specialist information management software and solutions to the public and asset-intensive sectors, announces that it has issued 814,332 new ordinary shares of 1 pence each in the Company ("Earn Out Shares") as part payment of the second earn-out consideration in respect of its acquisition of Aligned Assets Limited, as announced on 7 June 2021 ("Acquisition"). The second earn-out has been paid in full, comprising £500,000 in cash and 814,332 shares. The earn-out was based on achieving certain gross revenue targets during the 18-month period following the Acquisition. A final tranche of earn out consideration in respect of product deliverables, of up to an additional £500,000 in cash and an additional 814,332 shares may become payable at the conclusion of the second year of ownership in June 2023.
Applications have been made for the 814,332 Earn Out Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will occur at 8.00 a.m. on or around 16 December 2022.
The total number of ordinary shares in issue following Admission will be 453,338,220. The Company holds 1,426,219 ordinary shares in treasury. Therefore, the total number of ordinary shares with voting rights in the Company will be 451,912,001.
The above figure of 451,912,001 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 FCA's Disclosure and Transparency Rules.
For further information please contact:
Idox plc +44 (0) 870 333 7101
Chris Stone, Non-Executive ChairmanDavid Meaden, Chief ExecutiveAnoop Kang, Chief Financial Officer
Peel Hunt LLP (NOMAD and Broker) +44 (0) 20 7418 8900
Paul Gillam
James Smith
MHP Communications + 44 (0) 203 128 8276
Reg Hoare idox@mhpc.comOllie Hoare
Matthew Taylor
About Idox plc
For more information see www.idoxplc.com, @Idoxgroup