Last checked at 18 Jun 2013 07:00
18 June 2013
SocialGO Plc
Issue of Equity
On 24 December 2009 SocialGO plc ("SocialGO" or "Company") announced the acquisition of Get On With It Limited ("GOWIT"), which had developed the Company's SocialGO platform. The consideration for the acquisition was 34,999,999 ordinary shares of 1 penny each in SocialGO ("Ordinary Shares"), with 11,666,667 Ordinary Shares issued immediately and 23,333,332 Ordinary Shares being deferred and issued in four equal tranches. In light of the ongoing review of the Company's operations it has been agreed that the final tranche of 5,833,333 deferred consideration shares, due to be issued in January 2014, be issued now.
The Company has therefore issued and allotted the third and fourth tranches of deferred shares pursuant to the acquisition of GOWIT and accordingly has applied for 11,666,666 Ordinary Shares to be admitted to trading on AIM with effect from 19 June 2013.
Following admission of these shares to trading on AIM, the Company will have a total of 465,344,739 Ordinary Shares in issue. Two of the vendors of GOWIT, Stephen Hardman and Alex Halliday, are directors of SocialGO and as a result of this issue their interests in the Company will be as follows:
Stephen Hardman 25,625,762 Ordinary Shares (5.5%)
Alex Halliday 28,045,064 Ordinary Shares (6.0%)
For further information, please contact:
SocialGO plc Tel: +44 (0)845 299 7289
Oliver Cooke, Executive Chairman
Neil Goodall, CEO
www.socialgoplc.com
Northland Capital Partners Limited Tel: +44 (0)20 7796 8800
William Vandyk, Matthew Johnson