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Corporate Update

Released 09:09 19-Dec-2019

RNS Number : 4678X
appScatter Group PLC
19 December 2019
 

appScatter Group plc

("appScatter" or the "Company")

 

Corporate update

 

appScatter Group plc, the app management and data intelligence platform are pleased update shareholders that the merger of Airpush Inc ("Airpush") has been completed and the newly enlarged company renamed Airnow plc. 

 

Completion of the acquisition of Airpush Inc.

 

At the general meeting of the Company held on 13 December 2019 all resolutions were duly passed with a majority of over 99%, this included the resolutions to approve the acquisition of Airpush Inc.  Following the exchange of final documents, the transaction was duly completed on 17 December 2019.

 

Renaming of the enlarged company

 

On completion of the acquisition of Airpush the enlarged company has been renamed as Airnow plc. The TIDM will be changed when the Company is readmitted to the London Stock Exchange.

 

Planned IPO

 

As previously announced the Board intend to return the enlarged group to the London Stock Exchange in due course as a standalone IPO.

 

Share reorganisation

 

Resolutions passed at the general meeting also approved the subdivision and consolidation of the Company's issued share capital.  The combined effect of these resolutions is to reduce the number of shares in issue by a factor of five.  Shareholders with certificated holdings will receive a new certificate with the revised number of shares, shares held electronically will be adjusted automatically.

 

Prospects for the enlarged business

 

The new Board are delighted that the transaction has completed as they firmly believe that it has a strong strategic, commercial and financial rationale.

 

It significantly advances the Company's vision to create a global end-to-end platform for mobile app developers and publishers.   

 

The Enlarged Group will be able to support app developers and publishers throughout the entire app lifecycle: from creation, distribution and management, to marketing, monetisation, and security.

 

Philip Marcella, CEO of Airnow PLC, commented: "It is an exciting time as we enter 2020 with 1.3 million developers across the group, access to 250 million smartphones through our firmware updater and all the many new partnerships which have been formed. I would like to thank the team at Airpush and all our shareholders for their support over the last few months."

 

For enquiries, please contact:

 

Airnow plc

Philip Marcella, Chief Executive Officer 

 

Tel: +44 (0)20 8004 7212

www.appscatter.com

 

IFC Advisory Limited

PR/IR

Graham Herring / Tim Metcalfe / Florence Chandler

 

Tel: +44 (0)20 3934 6630

www.investor-focus.co.uk

 


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Corporate Update - RNS