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PROACTIS Holdings PLC  -  PHD   

Completion of Acquisition and Re-admission

Released 07:00 07-Aug-2017

RNS Number : 2190N
PROACTIS Holdings PLC
07 August 2017
 

PROACTIS Holdings Plc

 

Completion of Acquisition

Re-admission of the Enlarged Share Capital to trading on AIM

 

PROACTIS Holdings Plc ("PROACTIS", the "Group" or the "Company"), the specialist spend management solution provider, confirms that it has completed the acquisition of Perfect Commerce LLC ("Completion").

 

This follows the announcements on 7 July 2017 in relation to the Acquisition and Placing, and on 31 July 2017 in relation to the passing of the Resolutions at the General Meeting.

 

With Completion having occurred, the trading of the entire issued share capital of the Company (the "Issued Shares") on AIM will be cancelled (immediately prior to Re-admission) and will then be re-admitted to trading on AIM. Application has been made by the Company for the Issued Shares to be re-admitted to trading on AIM and it is expected that Re-admission will occur and dealings will commence by 8.00 a.m. today, 7 August 2017.

 

Following Re-admission, the total number of Shares in issue will be 92,662,789. There are no Shares held in treasury. Accordingly, the total number of voting rights in the Company on Re-admission will be 92,662,789. This figure may be used by Shareholders as the denominator for the calculations to determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

 

Hamp Wall, Chief Executive Officer of PROACTIS, commented:

"I am delighted that the combination of PROACTIS and Perfect Commerce is now complete. The Enlarged Group has a great opportunity to enhance its offer to its customers during what is an exciting and innovative period in the industry. I look forward to the challenge of delivering value to shareholders over the coming years."

 

Defined terms used in this announcement will have the meaning (unless the context otherwise requires) as set out in the Admission Document which is available on the Company's website www.proactis.co.uk. This announcement should be read in conjunction with the Admission Document published by the Company on 7 July 2017.

 

Enquiries:

 

PROACTIS Holdings PLC


Hamp Wall, Chief Executive Officer

Via Redleaf Communications

Tim Sykes, Chief Financial Officer

 


Redleaf Communications


Elisabeth Cowell

Sam Modlin

0207 382 4730



finnCap Ltd

Corporate Finance

Stuart Andrews

Carl Holmes

Emily Watts

Simon Hicks

 

Corporate Broking

Simon Johnson

Stephen Norcross

Alice Lane

0207 220 0500

 



Notes to Editors:

PROACTIS creates, sells and maintains specialist software which enables organisations to streamline, control and monitor all internal and external expenditure, other than payroll. PROACTIS' solutions are used in more than 1,000 organisations around the world from the commercial, public and not-for-profit sectors.

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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Completion of Acquisition and Re-admission - RNS