23 Mar 2017 11:03
LOOPUP GROUP PLC
("LoopUp Group" or the "Group")
Sale of Shares
LoopUp Group plc (LSE AIM: LOOP), the premium remote meetings company, announces that the lock-in arrangements which have been in place since its admission to AIM (the "Admission") have been varied in respect of Andrew Scott and Adara Ventures SICAR.
In order to satisfy institutional demand, Andrew Scott and Adara Ventures SICAR have been released with the consent of the Group and Panmure Gordon (UK) Limited from their undertaking not to dispose of any of their interests in the ordinary shares in the Group ("Ordinary Share") at any time prior to the first anniversary of the Group's Admission in August 2016.
Andrew Scott has sold 1,075,000 ordinary shares in the Group ("Ordinary Share") through the Scott Family Trust at 148 pence per Ordinary Share and Adara Ventures SICAR has sold 1,075,000 Ordinary Shares at 148 pence per Ordinary Share. In aggregate, 2,150,000 Ordinary Shares are subject to the sale (the "Sale"), representing 5.2% of the Group's issued share capital. The Group will not receive any proceeds from the Sale.
Following the Sale, Andrew Scott will have a beneficial interest of 11,788,919 Ordinary Shares representing 28.8% of the Group's issued share capital. These ordinary shares will remain subject to the same lock-in and orderly market arrangements undertaken on Admission.
Following the Sale, Adara Ventures SICAR will have a beneficial interest of 6,964,548 Ordinary Shares representing 17.0% of the Group's issued share capital. These ordinary shares will remain subject to the same lock-in and orderly market arrangements undertaken on Admission.
For further information:
LoopUp Group PLC
| via FTI Consulting, LLP |
Steve Flavell, Co-CEO |
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Panmure Gordon (UK) Limited | +44 (0) 207 886 2500 |
Dominic Morley / Alina Vaskina / William Wickham (Corporate Finance) |
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Erik Anderson / Amy Sarra (Corporate Broking) |
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FTI Consulting, LLP | +44 (0) 203 727 1000 |
Matt Dixon / Chris Lane / Roger Newby |
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About LoopUp Group plc
LoopUp (LSE AIM: LOOP) is a premium remote meetings solution. Streamlined and intuitive, LoopUp is built for business users and delivers the quality, security and reliability required in the enterprise. One-click screen sharing and integration with tools business people use every day, like Outlook™, make it easy for LoopUp users to collaborate in real time. LoopUp's award-winning SaaS solution doesn't overwhelm users with features, and doesn't require training. Over 2,000 enterprises worldwide, including Travelex, Kia Motors America, Planet Hollywood, National Geographic, and Subaru trust LoopUp with their remote meetings.
The Group is headquartered in London, with offices in San Francisco, New York, Boston, Hong Kong and Barbados, and is listed on the AIM market of the London Stock Exchange (LOOP). For further information, please visit: www.loopup.com.