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Enables It Group PLC Announces Acquisition And Placing


Thursday, 27 Jun 2013 02:05am EDT 

Enables It Group PLC announced that it has conditionally agreed to acquire the whole of the issued share capital of The Support Force Group Limited (Support Force), a UK data centre hosted platform and managed services provider (the Acquisition). In addition, the Group announces that Sanlam Securities UK Limited (Sanlam) on behalf of Enables IT has placed, with institutional and other investors, 2,527,722 new ordinary shares of GBP0.01 each in the capital of Enables IT (the Placing Shares) at a price of GBP0.36 per new ordinary share (the Placing Price) raising GBP910,000 (approximately GBP820,000 net of expenses) (the Placing). Under the terms of the Acquisition, Enables IT will purchase the whole of the entire issued share capital of Support Force for a total consideration of approximately GBP1.2 million (satisfied by GBP537,000 in cash, the assumption of an existing liability of Support Force of GBP250,000 and GBP412,000 of shares in Enables IT (the Consideration Shares)), subject to certain post completion conditions. The Placing Shares will represent approximately 13.7% of the enlarged issued share capital, as enlarged by the Placing and Consideration Shares. 

Company Quote

12.25
0.0 +0.00%
25 Jul 2014