IQGeo Group PLC Earn Out Consideration and Total Voting Rights (7021K)
09 Mai 2022 - 7:10PM
UK Regulatory
TIDMIQG
RNS Number : 7021K
IQGeo Group PLC
09 May 2022
IQGeo Group plc
(the "Company" or the "Group")
Issue of shares for OSPI Earn Out Consideration and Total Voting
Rights
IQGeo Group plc (AIM: IQG), a leading developer of geospatial
productivity and collaboration software for telecoms and utility
network operators, announces that application has been made for the
160,266 new ordinary shares of 2 pence in the Company ("Ordinary
Shares") to be admitted to trading on AIM ("Admission") and it is
expected that Admission will occur on or around 12 May 2022.
These new Ordinary Shares are being issued to the vendors of
OSPInsight International Inc. ("OSPI"), as set out in the Company's
announcement of 1 December 2020, recognising that OSPI has met
certain recurring revenue criteria. In addition, the Group has also
made a cash payment of US$295,625 in accordance with the
acquisition agreement, and the parties have also agreed to satisfy
a further consideration payment of $483,750 entirely in cash.
Following Admission, the Company's issued share capital will
consist of 57,675,962 Ordinary Shares with one voting right each.
The Company does not hold any Ordinary Shares in treasury.
Therefore, the total number of Ordinary Shares and voting rights in
the Company will be 57,675,962. With effect from Admission, this
figure may be used by shareholders in the Company 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 share capital of the Company under the FCA's
Disclosure Guidance and Transparency Rules.
For further information contact:
IQGeo Group plc +44 1223 606655
Richard Petti
Haywood Chapman
finnCap Ltd +44 20 7220 0500
Henrik Persson, Seamus Fricker (Corporate Finance)
Tim Redfern, Richard Chambers (ECM)
Notes to editors
IQGeo's end-to-end geospatial software improves productivity and
collaboration across enterprise planning, design, construction,
maintenance and sales processes for telecoms and utility network
operators. Our mobile-first enterprise solutions create and
maintain, an accurate view of complex network assets that is easily
accessible by anyone, wherever and whenever needed.
Specialised applications combined with our open IQGeo Platform
help network operators create a single source of network truth to
meet their digital transformation ambitions and operational KPIs.
Our award-winning, cloud-enabled solutions save time and money, and
improve safety and productivity, while enhancing customer
satisfaction.
With over 70,000 active software users, IQGeo has an established
and rapidly growing customer base with telecoms and utility
companies worldwide.
IQGeo trades on AIM with the ticker IQG.
For additional information please visit www.iqgeo.com
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END
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