Lombard Risk Management Regulatory News (LRM)

22 Dec 2005 13:56

Lombard Risk Management PLC22 December 2005 Lombard Risk Management plc ("Lombard Risk" or "the Company") Earn-out relating to acquisition of STB Systems Ltd The Board of Lombard Risk Management plc is pleased to announce that the firsttranche of earn-out consideration in respect of the acquisition of STB SystemsLtd ("STB Systems") has been achieved in full by the vendors of STB Systems. As a result of the achievement in full of this first earn-out, which is payablewholly in new ordinary shares in the Company, 5,000,000 new ordinary shares of0.5 pence each in the Company ("New Ordinary Shares") will be issued to thevendors of STB Systems. The consideration for the second tranche of the earn-out will be calculated byreference to the financial results of STB Systems for the period ending 31 March2006. The maximum consideration payable under the second tranche of the earn-outwill be a further 5,000,000 ordinary shares in the Company. As a result of the issue of the 5,000,000 New Ordinary Shares, there will be atotal of 130,535,610 shares of the Company in issue. Application has been madefor the admission of the New Ordinary Shares to trading on AIM and it isexpected that admission will become effective and that dealings in the NewOrdinary Shares will commence on 23 December 2005. The New Ordinary Shares willrank pari passu with all existing ordinary shares in the Company. Enquiries: Lombard Risk Management plc John Wisbeywww.lombardrisk.com Chairman and CEO Tel: 020 7384 5000 Noble & Company Limited Matthew Hall(Nominated Advisers to Lombard Risk) Director Tel: 020 7763 2200 This information is provided by RNS The company news service from the London Stock Exchange