Sch 1 update - Scotty Group SE (0177D)
09 Maggio 2012 - 5:58PM
UK Regulatory
TIDMSCO
RNS Number : 0177D
AIM
09 May 2012
ANNOUNCEMENT TO BE MADE BY THE AIM APPLICANT PRIOR TO ADMISSION
IN ACCORDANCE WITH RULE 2 OF THE AIM RULES FOR COMPANIES ("AIM
RULES")
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COMPANY NAME:
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SCOTTY Group SE (the "Company")
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COMPANY REGISTERED OFFICE ADDRESS AND IF DIFFERENT, COMPANY
TRADING ADDRESS (INCLUDING POSTCODES) :
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Registered office address:
The Club House, Brooklands Road, Weybridge, Surrey KT13 0QN,
United Kingdom
Proposed registered office in Austria:
Robert Graf Platz 1, A-7000 Eisenstadt, Austria
Company trading address:
Teslastrasse 4, 8074 Grambach, Austria
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COUNTRY OF INCORPORATION:
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England & Wales
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COMPANY WEBSITE ADDRESS CONTAINING ALL INFORMATION REQUIRED
BY AIM RULE 26:
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www.scottygroup.com
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COMPANY BUSINESS (INCLUDING MAIN COUNTRY OF OPERATION) OR,
IN THE CASE OF AN INVESTING COMPANY, DETAILS OF ITS INVESTING
POLICY). IF THE ADMISSION IS SOUGHT AS A RESULT OF A REVERSE
TAKE-OVER UNDER RULE 14, THIS SHOULD BE STATED:
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The Company is a leading provider of integrated communication
solutions for video, audio and data transmission over IP, ISDN
and SATCOM networks. The Company combines several years of
experience in the design and development of visual communications
technology and products with a deep understanding of customers'
requirements, resulting in individual communication packages
to a customer's specific needs. Amongst its customers, the
Company develops video and data communication solutions for
armed forces and governmental organisations worldwide.
The Company's main country of operation is Austria.
The Company's shares are currently admitted to trading on AIM.
The Company has proposed to change its domicile from the UK
to Austria which triggers cancellation and readmission of the
Company's shares.
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DETAILS OF SECURITIES TO BE ADMITTED INCLUDING ANY RESTRICTIONS
AS TO TRANSFER OF THE SECURITIES (i.e. where known, number
and type of shares, nominal value and issue price to which
it seeks admission and the number and type to be held as treasury
shares):
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969,640 fully paid up ordinary shares of Euro 1 each.
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CAPITAL TO BE RAISED ON ADMISSION (IF APPLICABLE) AND ANTICIPATED
MARKET CAPITALISATION ON ADMISSION:
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No capital is to be raised on admission.
The market capitalisation on admission is expected to be approximately
GBP1.5 million.
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PERCENTAGE OF AIM SECURITIES NOT IN PUBLIC HANDS AT ADMISSION:
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Approximately 31.61%
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DETAILS OF ANY OTHER EXCHANGE OR TRADING PLATFORM TO WHICH
THE AIM COMPANY HAS APPLIED OR AGREED TO HAVE ANY OF ITS SECURITIES
(INCLUDING ITS AIM SECURITIES) ADMITTED OR TRADED:
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The Company has not applied to nor agreed to have any of its
securities admitted or traded on any other exchange or trading
platform.
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FULL NAMES AND FUNCTIONS OF DIRECTORS (underlining the first
name by which each is known or including any other name by
which each is known):
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Dr Ernst Georg Wustinger - Non-Executive Chairman
Mr Kurt Kerschat - Chief Executive
Mr Hugh Francis Edmonds - Finance Director
Mr Frederick Bryan Smart - Non-Executive Director
Dr Hans Peter Sauerzopf -Non-Executive Director
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FULL NAMES AND HOLDINGS OF SIGNIFICANT SHAREHOLDERS EXPRESSED
AS A PERCENTAGE OF THE ISSUED SHARE CAPITAL, BEFORE AND AFTER
ADMISSION (underlining the first name by which each is known
or including any other name by which each is known):
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The Company is currently aware of the following shareholdings
which represent 3 per cent. or more of the Company's issued
share capital as at 29 March 2012, being the latest date prior
to the issue of this announcement. As no capital is being raised
concurrent with Admission, these holdings are before and after
Admission.
Dr Ernst Georg Wustinger - 223,022 ordinary shares (23.00%)
Mr Christopher Neil Woodgate - 35,274 ordinary shares (3.64%)
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NAMES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE
2, PARAGRAPH (H) OF THE AIM RULES:
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None
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(i) ANTICIPATED ACCOUNTING REFERENCE DATE
(ii) DATE TO WHICH THE MAIN FINANCIAL INFORMATION IN THE ADMISSION
DOCUMENT HAS BEEN PREPARED (this may be represented by unaudited
interim financial information)
(iii) DATES BY WHICH IT MUST PUBLISH ITS FIRST THREE REPORTS
PURSUANT TO AIM RULES 18 AND 19:
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(i) 31 December
(ii) 30 June 2011 (unaudited interim financial information)
(iii) 30 June 2012 (accounts for the year ending 31 December
2011);
30 September 2012 (interim accounts for the 6 months ending
30 June 2012); and
30 June 2013 (accounts for the year ending 31 December 2012);
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EXPECTED ADMISSION DATE:
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11 May 2012
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NAME AND ADDRESS OF NOMINATED ADVISER:
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Cairn Financial Advisers LLP
61 Cheapside
London EC2V 6AX
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NAME AND ADDRESS OF BROKER:
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Northland Capital Partners Limited
60 Gresham Street
London EC2V 4BB
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OTHER THAN IN THE CASE OF A QUOTED APPLICANT, DETAILS OF WHERE
(POSTAL OR INTERNET ADDRESS) THE ADMISSION DOCUMENT WILL BE
AVAILABLE FROM, WITH A STATEMENT THAT THIS WILL CONTAIN FULL
DETAILS ABOUT THE APPLICANT AND THE ADMISSION OF ITS SECURITIES:
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Not applicable
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DATE OF NOTIFICATION:
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9 May 2012
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NEW/ UPDATE:
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Update
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QUOTED APPLICANTS MUST ALSO COMPLETE THE FOLLOWING:
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THE NAME OF THE AIM DESIGNATED MARKET UPON WHICH THE APPLICANT'S
SECURITIES HAVE BEEN TRADED:
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The Company's securities are currently traded on AIM.
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THE DATE FROM WHICH THE APPLICANT'S SECURITIES HAVE BEEN SO
TRADED:
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29 July 2004
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CONFIRMATION THAT, FOLLOWING DUE AND CAREFUL ENQUIRY, THE APPLICANT
HAS ADHERED TO ANY LEGAL AND REGULATORY REQUIREMENTS INVOLVED
IN HAVING ITS SECURITIES TRADED UPON SUCH A MARKET OR DETAILS
OF WHERE THERE HAS BEEN ANY BREACH:
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The Company confirms that, following due and careful enquiry,
it has adhered to all legal and regulatory requirements involving
having its securities traded on AIM.
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AN ADDRESS OR WEB-SITE ADDRESS WHERE ANY DOCUMENTS OR ANNOUNCEMENTS
WHICH THE APPLICANT HAS MADE PUBLIC OVER THE LAST TWO YEARS
(IN CONSEQUENCE OF HAVING ITS SECURITIES SO TRADED) ARE AVAILABLE:
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www.scottygroup.com
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DETAILS OF THE APPLICANT'S STRATEGY FOLLOWING ADMISSION INCLUDING,
IN THE CASE OF AN INVESTING COMPANY, DETAILS OF ITS INVESTING
STRATEGY:
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The Company's strategy will remain unchanged following admission.
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A DESCRIPTION OF ANY SIGNIFICANT CHANGE IN FINANCIAL OR TRADING
POSITION OF THE APPLICANT, WHICH HAS OCCURRED SINCE THE END
OF THE LAST FINANCIAL PERIOD FOR WHICH AUDITED STATEMENTS HAVE
BEEN PUBLISHED:
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The following significant events occurred since 31 December
2010, being the end of the last financial period for which
audited statements have been published:
16 June 2011 - Issue of equity and related party transaction:
the Company issued 7,500,000 shares at 8 pence each raising
GBP600,000, of which Dr Ernst Wustinger subscribed for 6,250,000
shares and Kurt Kerschat subscribed for 312,500 shares.
5 September 2011 - Contract win: new contract with a leading
European army for the supply of vehicular video-SATCOM workstations
worth Euro 1.4 million.
27 September 2011 - Half yearly report: unaudited interim results
for the six months to 30 June 2011 announced.
30 September 2011 - New contracts: three new contracts to supply
the German Navy, NATO and the German Army worth a total of
up to Euro 0.7 million in the current financial year.
24 January 2012 - Trading update in relation to the second
half of the financial year to 31 December 2011.
28 February 2012 - Surrender of lease: agreement reached with
freehold owners of Bristol premises for surrender of head lease
in consideration of the payment of a premium of GBP150,000.
29 March 2012 - Loan from related party: short-term loan agreement
with Steirischer Technologie und Wachstumsfonds Beteiligungs
AG ("STWB"), a company in which Dr Wustinger is a 45% shareholder
and controls 54% of the issued share capital. The loan amount
is for up to GBP300,000, has been fully drawn down and is repayable
on 21 May 2012.*
All of the above were announced via RNS and full details are
available, inter alia, on the Company's website.
* On 29 March 2012, STWB agreed to rollover or extend the repayment
date as may be required
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A STATEMENT THAT THE DIRECTORS OF THE APPLICANT HAVE NO REASON
TO BELIEVE THAT THE WORKING CAPITAL AVAILABLE TO IT OR ITS
GROUP WILL BE INSUFFICIENT FOR AT LEAST TWELVE MONTHS FROM
THE DATE OF ITS ADMISSION:
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The directors of the Company have no reason to believe that
the working capital available to the Company will be insufficient
for at least 12 months from the date of its Admission.
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DETAILS OF ANY LOCK-IN ARRANGEMENTS PURSUANT TO RULE 7 OF THE
AIM RULES:
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None
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A BRIEF DESCRIPTION OF THE ARRANGEMENTS FOR SETTLING THE APPLICANT'S
SECURITIES:
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Please refer to paragraph 6 of the Appendix to this pre-admission
announcement for details of the arrangements for settling securities.
The Appendix is available on the Company's website at www.scottygroup.com.
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A WEBSITE ADDRESS DETAILING THE RIGHTS ATTACHING TO THE APPLICANT'S
SECURITIES:
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www.scottygroup.com
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INFORMATION EQUIVALENT TO THAT REQUIRED FOR AN ADMISSION DOCUMENT
WHICH IS NOT CURRENTLY PUBLIC:
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The Appendix to this Schedule 1 contains, inter alia, information
equivalent to that required for an admission document which
is not currently public and is available at www.scottygroup.com.
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A WEBSITE ADDRESS OF A PAGE CONTAINING THE APPLICANT'S LATEST
ANNUAL REPORT AND ACCOUNTS WHICH MUST HAVE A FINANCIAL YEAR
END NOT MORE THEN NINE MONTHS PRIOR TO ADMISSION AND INTERIM
RESULTS WHERE APPLICABLE. THE ACCOUNTS MUST BE PREPARED IN
ACCORDANCE WITH ACCOUNTING STANDARDS PERMISSIBLE UNDER AIM
RULE 19:
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www.scottygroup.com
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THE NUMBER OF EACH CLASS OF SECURITIES HELD IN TREASURY:
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None
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This information is provided by RNS
The company news service from the London Stock Exchange
END
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