Last checked at 10 Sep 2010 12:00
10 September 2010
NETCALL PLC
("Netcall" or the "Company")
Early Settlement of Contingent Consideration
Netcall plc (AIM:NET), a leading provider of callback, speech automation, workforce management and data integration solutions, announces that the Company and its wholly-owned subsidiary, Telephonetics Limited ("Telephonetics") have entered into an agreement with certain of the vendors of Datadialogs Limited ("Vendors") for an early settlement of potential contingent consideration outstanding of up to £1.6 million payable in the period to March 2011. Arrangements were concluded in April 2010 with the other vendor of Datadialogs Limited in full and final settlement of his entitlement to contingent consideration.
Pursuant to the agreement, Netcall will pay £50,000 cash, and issue 425,530 new ordinary shares of 5 pence each in Netcall ("Shares") at 11.75 pence per Share, being the closing middle market price on 7 September 2010, to the Vendors. These amounts will constitute full and final settlement of Telephonetics' and Netcall's obligations to the Vendors in respect of the contingent consideration.
Application will be made to the London Stock Exchange for the new Shares to be admitted to trading on AIM. Dealings of the new Shares are expected to commence at 8.00 a.m. on 16 September 2010.
Henrik Bang, CEO of Netcall, commented, "The board is pleased to announce the early settlement of the contingent consideration for Datadialogs. The settlement enables the immediate integration of Datadialogs into all areas of our business, accelerating potential synergies and creating a clearer group structure. In the current climate, Datadialogs' ability to provide rapid efficiency improvements represents a significant benefit for our customers."
For further enquiries, please contact:
| Netcall plc |
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| Henrik Bang, CEO James Ormondroyd, Group Finance Director | Tel. +44 (0) 1480 495300 Tel. +44 (0) 1442 242 242 |
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| Evolution Securities Limited | Tel. +44 (0) 20 7071 4300 |
| Barry Saint/ Esther Lee - Nominated Adviser |
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| Tim Redfern - Broker |
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| Threadneedle Communications | Tel. +44 (0) 20 7653 9850 |
| Tom Moriarty / Caroline Evans-Jones/ Hilary Millar |
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About Netcall
Netcall is a U.K. company listed on the AIM market of the London Stock Exchange. Netcall's product suite provides innovative communication, workforce management and end-to-end customer interaction solutions to organisations of all sizes, including many blue-chip companies with global contact centre operations. Netcall's solutions, such as callback, auto-messaging, telephone self-service and voice automation help organisations to increase profits and productivity while improving customer satisfaction and employee morale.
Netcall's customer list consists of over 500 of the UK's most successful organisations in both the public and private sphere. Customers include 80% of the major UK multiplex cinemas, over 60% of the NHS Acute Health Trusts, major telecoms operators such as BT and Cable & Wireless and some of the UK's leading financial services organisations such as First Direct, Chelsea Building Society, Lloyds TSB, Prudential, RBS and Standard Life.