AIM Sch 1 - Proactis Holdings Plc (3687K)
July 07 2017 - 3:00AM
UK Regulatory
TIDMPHD
RNS Number : 3687K
AIM
07 July 2017
ANNOUNCEMENT TO BE MADE BY THE AIM APPLICANT
PRIOR TO ADMISSION IN ACCORDANCE WITH RULE 2
OF THE AIM RULES FOR COMPANIES ("AIM RULES")
---------------------------------------------------------------------
COMPANY NAME:
---------------------------------------------------------------------
PROACTIS Holdings plc ( "PROACTIS" or the "Company")
---------------------------------------------------------------------
COMPANY REGISTERED OFFICE ADDRESS AND IF DIFFERENT,
COMPANY TRADING ADDRESS (INCLUDING POSTCODES)
:
---------------------------------------------------------------------
2nd Floor
1 Riverview Court
Castle Gate
Wetherby
West Yorkshire
LS22 6LE
---------------------------------------------------------------------
COUNTRY OF INCORPORATION:
---------------------------------------------------------------------
England and Wales
---------------------------------------------------------------------
COMPANY WEBSITE ADDRESS CONTAINING ALL INFORMATION
REQUIRED BY AIM RULE 26:
---------------------------------------------------------------------
http://www.proactis.com
---------------------------------------------------------------------
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:
---------------------------------------------------------------------
PROACTIS Holdings plc intends to acquire Perfect
Commerce, LLC ("Perfect Commerce"). Following
completion of the Acquisition, the business
will be that of both PROACTIS and Perfect Commerce
(together, the "Enlarged Group").
PROACTIS and Perfect Commerce both operate in
the spend management solutions market, specialising
in the development and sale of technology led
spend management software and solutions to help
customers procure 'indirect' goods and services
more efficiently and effectively with the combined
objectives of reducing costs and improving control
and compliance.
PROACTIS' solutions are used by approximately
850 buyer organisations, with over 2 million
users, in over 90 countries, although predominately
in the UK, across the commercial, public and
not-for-profit sectors.
Perfect Commerce's cloud-based solutions are
used by approximately 150 customers, many of
which are Tier 1 customers, with over 1.3 million
users (excluding ERP and e Catalogue customers)
across 83 countries, 21 languages and 102 currencies.
Further, Perfect Commerce operates its proprietary
supplier network that it calls 'The Business
Network' and which has approximately 970,000
suppliers connected to it. Perfect Commerce's
main country of operation is the US and it also
has extensive operations in mainland Europe.
Perfect Commerce has a controlling, 79 per cent.
shareholding in Hubwoo SA, a French company
which is listed on the Eurolist of NYSE Euronext,
in France.
The Enlarged Group will have a customer base
extending across the United States, the United
Kingdom and mainland Europe, served by an enhanced
end-to-end solution set.
The Enlarged Group's main country of operation
will be the United Kingdom.
The Acquisition constitutes a reverse takeover
under AIM Rule 14. Accordingly, shareholder
approval for the Acquisition is being sought
at a general meeting convened for 31 July 2017.
---------------------------------------------------------------------
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):
---------------------------------------------------------------------
92,662,789 ordinary shares of 10 pence each
("Ordinary Shares") to be admitted, of which
42,424,243 Ordinary Shares are in respect of
the placing to be admitted shortly prior to
Admission ("Placing Shares").
No shares held in treasury.
No restrictions as to transfer of the securities.
---------------------------------------------------------------------
CAPITAL TO BE RAISED ON ADMISSION (IF APPLICABLE)
AND ANTICIPATED MARKET CAPITALISATION ON ADMISSION:
---------------------------------------------------------------------
Capital to be raised shortly prior to Admission:
GBP70 million at a placing price of 165 pence
per Ordinary Share ("Placing Price") (the "Placing").
Admission of the Placing Shares is expected
on 1 August 2017.
Anticipated market capitalisation on Admission:
GBP152.9 million (based on the Placing Price).
---------------------------------------------------------------------
PERCENTAGE OF AIM SECURITIES NOT IN PUBLIC HANDS
AT ADMISSION:
---------------------------------------------------------------------
11.5 per cent.
---------------------------------------------------------------------
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:
---------------------------------------------------------------------
None
---------------------------------------------------------------------
FULL NAMES AND FUNCTIONS OF DIRECTORS AND PROPOSED
DIRECTORS (underlining the first name by which
each is known or including any other name by
which each is known):
---------------------------------------------------------------------
Alan John Aubrey (Non-Executive Chairman)
Timothy (Tim) James Sykes (Chief Financial Officer
and Chief Executive Officer)
Sean Anthony McDonough (Chief Operating Officer)
Rodney Potts (Non-Executive Director)
George Hampton Wall Jr (Proposed Chief Executive
Officer)
---------------------------------------------------------------------
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):
---------------------------------------------------------------------
Immediately
following the
Placing and
expected upon
Before the Placing Admission*
------------------------ --------------------- -----------------
Number Number
of Shares of Shares
Shareholder held % held %
------------------------ -------------- ----- ----------- ----
Mr Rodney Potts 8,957,765 17.8 8,957,765 9.7
------------------------ -------------- ----- ----------- ----
Investec Wealth
& Investment
Limited 4,639,113 9.2 4,919,719 5.3
------------------------ -------------- ----- ----------- ----
Artemis Investment
Management LLP 4,266,226 8.5 5,766,226 6.2
------------------------ -------------- ----- ----------- ----
Lombard Odier
Asset Management
(Europe) Limited 3,792,297 7.5 8,718,317 9.4
------------------------ -------------- ----- ----------- ----
Hargreave Hale
& Co 3,692,276 7.3 4,904,397 5.3
------------------------ -------------- ----- ----------- ----
Mr Rodney Jones 2,617,836 5.2 2,617,836 2.8
------------------------ -------------- ----- ----------- ----
Liontrust Investment
Partners LLP 2,329,656 4.6 7,352,672 7.9
------------------------ -------------- ----- ----------- ----
Miton Asset Management
LTD 1,777,148 3.5 4,224,932 4.6
------------------------ -------------- ----- ----------- ----
AXA Investment
Managers (U.K.)
LTD 1,744,905 3.5 3,635,388 3.9
------------------------ -------------- ----- ----------- ----
Old Mutual Global
Investors Ltd - - 2,993,611 3.2
------------------------ -------------- ----- ----------- ----
* If there are any material changes between
the Placing and Admission, a further update
will be made.
------------------------------------------------------------------
---------------------------------------------------------------------
NAMES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE
WITH SCHEDULE 2, PARAGRAPH (H) OF THE AIM RULES:
---------------------------------------------------------------------
None
---------------------------------------------------------------------
(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:
---------------------------------------------------------------------
(i) 31 July
(ii) 31 December 2016 (Perfect Commerce) / 31
January 2017 (PROACTIS)
(iii) 31 January 2018 (twelve month audited
accounts to 31 July 2017); 30 April 2018 (six
month unaudited results to 31 January 2018);
31 January 2019 (twelve month audited accounts
to 31 July 2018).
---------------------------------------------------------------------
EXPECTED ADMISSION DATE:
---------------------------------------------------------------------
7 August 2017
---------------------------------------------------------------------
NAME AND ADDRESS OF NOMINATED ADVISER:
---------------------------------------------------------------------
finnCap Ltd
60 New Broad Street
London
EC2M 1JJ
---------------------------------------------------------------------
NAME AND ADDRESS OF BROKER:
---------------------------------------------------------------------
finnCap Ltd
60 New Broad Street
London
EC2M 1JJ
---------------------------------------------------------------------
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:
---------------------------------------------------------------------
A copy of the Admission Document containing
full details about the applicant and the admission
of its securities will be available on the Company's
website from the date of publication:
http://www.proactis.com/investors
---------------------------------------------------------------------
DATE OF NOTIFICATION:
---------------------------------------------------------------------
7 July 2017
---------------------------------------------------------------------
NEW/ UPDATE:
---------------------------------------------------------------------
NEW
---------------------------------------------------------------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
PAAOKADNQBKDQOK
(END) Dow Jones Newswires
July 07, 2017 03:00 ET (07:00 GMT)
Proactis (LSE:PHD)
Historical Stock Chart
From Mar 2024 to Apr 2024
Proactis (LSE:PHD)
Historical Stock Chart
From Apr 2023 to Apr 2024