Issue of Equity and acquisition
01 Maggio 2008 - 2:30PM
UK Regulatory
INNOVISE PLC ("INNOVISE" OR THE "COMPANY")
ISSUE OF EQUITY AND ACQUISITION OF ROSTER MANAGEMENT LTD
Innovise plc is pleased to announce that it has completed the acquisition (the
"Acquisition") of Roster Management Limited, a specialist provider of workforce
management software to the manned guarding sector, for a consideration of �
125,000.
The Board believes the Acquisition will further strengthen the Company's
leadership position in the UK facilities management market. The business will
be fully integrated within Innovise Software during 2008 and is expected to be
earnings enhancing from 2009 as cost synergies are realised.
The Board expects net assets of the Acquisition to be approximately �100,000.
The consideration will be satisfied by the issue of 58,140 new ordinary shares
in the Company at 43p per share and �100,000 in cash.
Application has been made for the new ordinary shares of 1p to be admitted to
trading on AIM and dealings are expected to commence on 8 May 2008. The new
shares will rank pari passu with existing ordinary shares.
Following the issue of shares noted above, the enlarged issued share capital of
the Company will comprise 20,805,474 ordinary shares of 1p each.
For further information contact:
Mike Taylor, Joint CEO Innovise 0870 626 0400
Tony Edwards, Finance Director Innovise 0870 626 0400
Liam Murray, Nominated Adviser Dowgate Capital Advisers 020 7492 4777
Ruari McGirr or Mark Anwyl, St Helen's Capital 020 7628 5582
Broker
Ian Foster, Shareholder Wordsworth Communication 07739 185 050
Relations
END
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