Lombard Risk Management Regulatory News (LRM)

26 Sep 2006 07:01

Lombard Risk Management PLC26 September 2006 For immediate release 26 September 2006 Lombard Risk Management plc (the "Company") Earn-out relating to the acquisition of STB Systems Ltd. The board of Lombard Risk Management plc is pleased to announce that, as fullyanticipated in previous announcements, the second and final tranche of earn-outconsideration in respect of the acquisition of STB Systems Ltd ("STB Systems")was almost fully achieved by the vendors of STB Systems. The final earn-outpayment is based on revenue and earnings achieved to 31 March 2006 and ispayable wholly in new ordinary shares in the Company. A total of 4,200,000 new ordinary shares of 0.5 pence each in the Company ("NewOrdinary Shares") will be issued to the vendors of STB Systems. This compareswith a maximum achievable pay-out in the second earn-out payment of 5,000,000shares, and means that overall the earn-out achieved was 92% of the maximumpossible. Following the issue of the New Ordinary Shares, the Company will have a total of134,735,610 shares in issue. Application has been made for the admission of theNew Ordinary Shares to trading on AIM and it is expected that admission willbecome effective and that dealings in the New Ordinary Shares will commence on,or shortly after 29 September 2006. The New Ordinary Shares will rank pari passuwith all existing ordinary shares in the Company. Enquires: Lombard Risk Management plc: Tel : +44 (0)20 7384 5000John Wisbey, Chairman and CEOSpencer Backhouse, Company Secretary Noble & Company Limited (Nominated Advisors) Tel: +44 (0)20 7763 2200Matthew Hall, Director This information is provided by RNS The company news service from the London Stock Exchange