SpaceandPeople PLC Announces Acquisition Of SpaceandPeople India Pvt Limited

SpaceandPeople PLC announced that on June 4, 2012, SpaceandPeople India Pvt Ltd, a company that was until this date an associated company of SpaceandPeople, issued a further 250,000 shares of INR1 each at a price of GBP1.50 per share in order to raise working capital to fund the next phase of its expansion. This increased the total issued share capital of SpaceandPeople India Pvt Ltd to 1,083,642 shares. As a result of shares acquired by the Company at this time, the Company's shareholding in SpaceandPeople India Pvt Ltd increased from 378,832 shares to 564,973 shares. This represents an increase from 45.44% to 52.14% of SpaceandPeople India Pvt Ltd's issued share capital and with effect from June 4, 2012, SpaceandPeople India Pvt Limited became a subsidiary of the Company.