CPPGroup Plc AIM Admission - Update (6095E)
February 11 2015 - 3:17AM
UK Regulatory
TIDMCPP
RNS Number : 6095E
CPPGroup Plc
11 February 2015
CPPGROUP PLC
11 February 2015
Admission to AIM
Further to the announcement on 23 December 2014 and the General
Meeting of the Company held on 13 January 2015, CPPGroup Plc (CPP
or the Group) is pleased to confirm that the admission of CPP's
Ordinary Shares of 1 penny each (Ordinary Shares) to trading on AIM
occurred at 8.00 a.m. today, 11 February 2015 (Admission). The
Ordinary Shares have been removed from trading on the Main Market
of London Stock Exchange plc and their listing on the Official List
has been cancelled. The Placing, which was announced on 23 December
2014, of 666,666,667 new Ordinary Shares at a price of 3 pence
each, raising GBP20.0 million (approximately GBP17.9 million net of
expenses), is now complete. Following Admission and the completion
of the Placing the Group's issued share capital consists of
838,316,608 Ordinary Shares.
As also announced on 23 December 2014, the net proceeds of the
Placing will be used for the prepayment in part of the Group's Bank
Facility (including certain prepayment fees), and a compromise
payment in relation to the settlement of the Commission Deferral
Agreement. As such the Board confirms, following clearance of the
Placing proceeds, execution of both the Amended and Restated
Facility and the Business Partner Agreement. The remaining proceeds
will be used to invest in a modern, cost-effective IT
infrastructure and system for the Group and to provide additional
capital to fund in part elements of the Group's Business
Transformation programme and related costs of change, as set out in
the Group's statement on 23 December 2014.
Brent Escott, Chief Executive Officer, commented:
"We have made significant progress over the last year to
stabilise the Group and continue to improve the operational
environment, strengthen the Group's governance, reduce the Group's
cost base and identify new growth opportunities. With the support
of our shareholders and Business Partners, the move to AIM provides
a springboard for future growth and enables the Group to look
forward with renewed confidence."
Except as otherwise defined herein, capitalised terms have the
same meanings as set out in the Circular dated 24 December
2014.
Enquiries
Investor Relations
CPPGroup Plc
Brent Escott, Chief Executive Officer
Craig Parsons, Chief Financial Officer
Tel: +44 (0)1904 544702
Helen Spivey, Head of Corporate and Investor Communications
Tel: +44 (0)1904 544387
Media
Haggie Partners: Peter Rigby, Samantha Whiteley, James
Fearnley
Tel: +44 (0)20 7562 4444
Nominated Adviser and Broker
Numis Securities Limited: Robert Bruce; Stuart Skinner; Charles
Farquhar
Tel: +44 (0)20 7260 1000
Notes and Disclosures
CPPGroup Plc (CPP or the Group) is an international assistance
business operating in the UK and overseas within the financial
services, telecommunications and travel sectors. CPP primarily
operates a business-to-business-to-consumer (B2B2C) business model
providing services and retail, wholesale and packaged products to
customers through Business Partners and direct to consumer. The
Group's core assistance and travel service products help to provide
security and enhance the experience of travel for customers
worldwide, designed to make everyday life easier to manage.
Disclosures on the Company, as required by AIM Rule 26, can be
found at www.cppgroupplc.com/investor-relations. Further to
disclosure in the Appendix to the Schedule 1 announcement published
on 14 January 2015, the Company confirms that Mr Brent Escott was
at the relevant times a director of CDI Realisation 2003 Limited,
which was placed into voluntary administration by its directors on
30 October 2002 and, following a creditors' voluntary liquidation
and winding-up order issued on 15 January 2003, was dissolved on 21
September 2006.
For more information on CPP visit www.cppgroupplc.com
REGISTERED OFFICE
CPPGroup Plc
Holgate Park
York
YO26 4GA
Registered number: 07151159
This information is provided by RNS
The company news service from the London Stock Exchange
END
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