28 Nov 2018 08:14
THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN INVITATION OR OFFER TO SELL OR THE SOLICITATION OF AN INVITATION OR OFFER TO BUY ANY SECURITY. NONE OF THE SECURITIES REFERRED TO IN THIS ANNOUNCEMENT SHALL BE SOLD, ISSUED, EXCHANGED OR TRANSFERRED IN ANY JURISDICTION IN CONTRAVENTION OF APPLICABLE LAWS.
The information communicated in this announcement includes inside information for the purposes of Article 7 of Regulation 596/2014
SCISYS Group PLC
(SSY: AIM)
COMPLETION OF REORGANISATION AND FIRST DAY OF DEALINGS
28 November 2018
SCISYS Group PLC ("New SCISYS"; AIM SSY; ESM: SCC), is pleased to announce that the reorganisation to establish New SCISYS as the holding company of the SCISYS Group, first announced by the Board of Directors of SCISYS PLC ("Old SCISYS") on 17 October, is now complete.
Accordingly 29,584,660 ordinary shares of 25p each in the capital of New SCISYS were admitted to trading on AIM and ESM at 8.00 a.m. today under the ticker SSY and SCC respectively. SCISYS Group PLC is now the holding company of the SCISYS Group.
Old SCISYS Shareholders on the register at the Scheme Record Time, being 6.00 p.m. on 26 November 2018, will receive one New SCISYS Share for each Old SCISYS Share held at that time. Share certificates in respect of such New SCISYS Shares to be held in certificated form will be sent to the relevant New SCISYS Shareholders on 11 December 2018.
Commenting, Chairman of SCISYS Group PLC, Mike Love, said:
"As a pan-European business, the Board of SCISYS was keen to ensure it had taken whatever pre-emptive measures possible to limit any potential impact of Brexit. We conceived of a means of satisfying the needs of both the UK and European operations with minimal impact on the business or shareholders.
We are very pleased with the outcome which will not affect staff or customers in any way, and which will ensure that we continue to grow the SCISYS Group without limitation from the changes to the political landscape."
Further information
For further information please contact:
SCISYS Group PLC | +44 (0)1249 466 466 | |
Mike Love | Chairman | |
Klaus Heidrich | Chief Executive Officer | |
Chris Cheetham
| Finance Director | |
finnCap (NOMAD, AIM Broker and ESM Adviser) | +44 (0)20 7220 0500 | |
Julian Blunt, James Thompson
Andrew Burdis
| Corporate Finance
Corporate Broking | |
Davy (ESM Broker) | ||
John Frain | Corporate Finance | +353 (0)1 6796363 |
Walbrook PR | +44 (0)20 7933 8780 | |
Tom Cooper/Paul Vann | +44 (0)797 122 1972 | |
tom.cooper@walbrookpr.com |
Definitions
Save where otherwise defined herein or where the context otherwise requires, defined terms in this announcement shall have the meanings given to them in the scheme document published by Old SCISYS on 26 October 2018.
About SCISYS Group
Employing around 580 staff, SCISYS Group is a leading developer of information and communications technology services, e-business, web and mobile applications, editorial newsroom solutions and advanced technology solutions. The Company operates in a broad spectrum of market sectors, including Media & Broadcast, Space, Government and Defence and Commercial sectors. SCISYS clients are predominantly blue-chip and public-sector organisations. Customers include the Environment Agency, the Ministry of Defence, Airbus Defence & Space, Thales Alenia Space, Arqiva, Vodafone, the European Space Agency, Eumetsat, the BBC, Radio France, RTL, RNLI, Pets at Home, Siemens and the National Trust. The Company has UK offices in Chippenham, Bristol, Leicester and Reading and German offices in Bochum, Dortmund, Darmstadt and Munich. More information is available at www.scisys.co.uk.
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