27 Apr 2021 07:00
RNS | 27 APRIL 2021
SmartSpace Software Plc
("SmartSpace" or the "Company" or the "Group")
Issue of Equity and Total Voting Rights
On 31 October 2019, SmartSpace Software plc, (AIM:SMRT) the leading provider of 'Integrated Space Management Software' for smart buildings, commercial spaces announced that it had completed the acquisition of Space Connect Pty Limited ("Space Connect") for consideration of AUD 6.0 million (approximately £3.2 million at the applicable exchange rate at the time) ("Consideration"). As part of the Consideration, 675,411 new ordinary shares of 10 pence each in the capital of the Company ("Ordinary Shares") were to be issued 18 months from completion (the "Retention Shares") if no claims arose under the Share Purchase Agreement signed on completion.
This period of time has now elapsed and Company can confirm that no claims have arisen under the SPA. Accordingly, the Company has allotted the Retention Shares and application has been made to the London Stock Exchange for all 675,411 of the Retention Shares to be admitted to trading on AIM at 8.00 a.m. on 30 April 2021.
In addition to the lock-ins on the initial completion consideration shares set out in the announcement dated 31 October 2019, the Retention Shares will be subject to an 12 month lock-in from the date of issue.
The Retention Shares are being issued to Pope Family Investment Pty Ltd, of which Matthew Pope (a Senior Manager in SmartSpace and the founder of Space Connect) is the ultimate beneficiary.
Total Voting Rights
Following the issue and allotment of the above Retention Shares, the Company's issued share capital will comprise of 28,931,234 Ordinary Shares. The Company does not hold any Ordinary Shares in treasury. Therefore the total number of voting rights in the Company is 28,931,234.
The figure of 28,931,234 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 of their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.
Enquiries
SmartSpace Software Plc Frank Beechinor (CEO) Bruce Morrison (CFO)
Lisa Baderoon (Head of Investor Relations) lbaderoon@smartspaceplc.com
| via Lisa Baderoon - Head of Investor Relations
+44(0) 7721 413 496 |
N+1 Singer (NOMAD & Joint Broker) Shaun Dobson, Head of Corporate Finance Alex Bond, Corporate Finance Tom Salvesen, Corporate Broking | +44 (0)20 7496 3000 |
Canaccord Genuity (Joint Broker) | +44 (0) 20 7523 8000 |
Adam James Georgina McCooke |
About SmartSpace Software Plc
SmartSpace Software Plc is a SaaS-based technology business, designing and building smart software solutions. The Company's software solutions in workspace help transform employee and customer engagement with modules which include desk management, meeting room management, wayfinding, car parking, visitor management, and analytics.
The three operating companies in the Group comprise:
· Space Connect - SaaS meeting room and desk booking (www.spaceconnect.co)
· SwipedOn - SaaS visitor management (www.SwipedOn.com)
· Anders & Kern - hardware and software distribution and technical support (www.anders-kern.co.uk)
For more information go to: www.smartspaceplc.com