Key Developments: Feedback PLC (FDBK.L)

FDBK.L on London Stock Exchange

1.30GBp
11 Jul 2014
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Latest Key Developments (Source: Significant Developments)

Feedback Plc acquires CCI and TexRAD
Wednesday, 30 Apr 2014 02:01am EDT 

Feedback Plc:Enter into conditional agreements to acquire the issued share capital of CCI and TexRAD, both medical imaging software companies, and the underlying IP relating to TexRAD.For a total consideration of 473,900 pounds to be satisfied by the issue of the consideration shares and 26,400 pounds in cash.Proposing to raise 300,000 pounds by way of a conditional subscription for 24,000,000 ordinary shares at 1.25p per share.As a consequence, the Directors are seeking shareholder approval for the acquisitions at a general meeting which is expected to be convened on May 16 at the offices of Stephenson Harwood LLP at 1 Finsbury Circus, London EC2M 7SH.It is expected that admission to AIM will become effective and that dealings in the Enlarged Issued Share Capital will commence on or before May 19.  Full Article

Feedback Plc Announces Updates On Disposal Of Freehold Property
Tuesday, 30 Jul 2013 07:18am EDT 

Feedback Plc announced that it has sold the Property to Orbit South Housing Association Limited for a cash consideration of GBP940,000 together with a further nominal sum for environmental reports related to the Property. The net proceeds of the disposal, amounting to GBP940,000, will be used to extinguish all of the Company's outstanding indebtedness of approximately GBP200,000, with the remaining balance being retained for working capital purposes and used to make investments in accordance with its Investing Policy.  Full Article

Feedback Plc Announces Disposal Of Freehold Property
Thursday, 11 Jul 2013 02:00am EDT 

Feedback Plc announced that it was in of the process of selling its freehold property at Park Road, Crowborough, East Sussex TN6 2QR (Property). Following that announcement the Company completed the sale of Feedback Data plc, which was the Company's last trading business, and became an Investing Company for the purposes of the AIM Rules. Other than some minor cash balances the Property is the only remaining asset in the Company. Consequently, the Disposal constitutes a fundamental change of business under Rule 15 of the AIM Rules and is therefore conditional on the approval of shareholders. The Company will be seeking Shareholder approval to dispose of the Property for a consideration of not less than GBP940,000 in cash. In the event that the purchase price agreed with a buyer is lower than GBP940,000 then the Company will not be able to conclude the transaction without first seeking the approval of its Shareholders at a further General Meeting convened for that purpose. The proceeds of the disposal, once concluded will be used to extinguish all of the Company's outstanding indebtedness, which amounts to approximately GBP200,000, with the remaining balance being retained for working capital purposes and used to make investments in accordance with the Investing Policy, details of which are set out below.  Full Article

Feedback PLC Completes Disposal of Feedback Data plc to Belgravium Technologies plc
Monday, 3 Jun 2013 02:00am EDT 

Feedback PLC announced that with reference to the announcement made on May 30, which confirmed that the Company's shareholders had approved the disposal of Feedback Data plc to Belgravium Technologies plc the Company announced that the Disposal was completed as at close of business on May 31, 2013.  Full Article

Feedback PLC Announces Disposal of Feedback Data plc
Tuesday, 14 May 2013 02:00am EDT 

Feedback PLC announced that it entered into a conditional sale and purchase agreement, subject to Shareholder approval, to dispose of its wholly owned subsidiary Feedback Data plc (Feedback Data) to Belgravium Technologies plc (Belgravium). Completion is expected to take place on May 31, 2013. Pursuant to the Sale and Purchase Agreement between Feedback plc and Belgravium Technologies plc, Belgravium has conditionally agreed to acquire the entire issued share capital of Feedback Data. The Consideration payable by Belgravium for Feedback Data is £ 600,000 in cash on completion (subject to adjustment on the basis of the cash and debt position of Feedback Data at Completion). The Disposal comprises all of the asset and liabilities of Feedback Data. Feedback Data is being sold on a cash free debt free basis such that a proportion of the consideration will be used to repay the indebtedness of Feedback Data and such that the Company will receive a payment in cash equal to the amount of cash held by Feedback Data at completion of the Disposal.  Full Article

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