(“Idox”, “the Company” or “the Group”)
Payment of Earnout and Allotment of Shares
Idox plc (AIM: IDOX) a leading supplier of specialist information management software and solutions to the public and asset-intensive sectors, announces that it has issued 814,336 new ordinary shares of 1 pence each in the Company (“Earn Out Shares“) as part payment of the third earn-out consideration in respect of its acquisition of Aligned Assets Limited, as announced on 7 June 2021 (“Acquisition”). The third earn-out will be paid in full on 14 June 2023, comprising £0.5m in cash and 814,336 shares. The earn-out was based on providing certain product deliverables during the 18-month period following the Acquisition. The total consideration was £10.5m, of which £7.5m was paid in cash at the time of the Acquisition in June 2021. The total earn-out consideration for the Acquisition comprised a payment of £1.5m in cash, and 2,443,000 in shares, payable over a 24-month period. These amounts will complete the full consideration for the Acquisition.
Applications have been made for the 814,336 Earn Out Shares to be admitted to trading on AIM (“Admission“). It is expected that Admission will occur at 8.00 a.m. on or around 14 June 2023.
The total number of ordinary shares in issue following Admission will be 454,363,314. The Company does not hold any ordinary shares in treasury. Therefore, the total number of ordinary shares with voting rights in the Company will be 454,363,314.
The above figure of 454,363,314 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA’s Disclosure and Transparency Rules.
For further information please contact:
Idox plc +44 (0) 870 333 7101
Chris Stone, Non-Executive Chairman
David Meaden, Chief Executive
Anoop Kang, Chief Financial Officer
Peel Hunt LLP (NOMAD and Broker) +44 (0) 20 7418 8900
MHP Communications + 44 (0) 203 128 8276
Reg Hoare firstname.lastname@example.org
About Idox plc
For more information see www.idoxplc.com, @Idoxgroup