TIDMISL
RNS Number : 1963Y
IS Solutions PLC
28 August 2009
IS Solutions Plc
Further re Acquisition
IS Solutions Plc ("IS Solutions" or "the Company") announces that, further to
the acquisition on 22 July 2008 of specialist solutions provider Chapter 26 Ltd
("Chapter 26") which was subject to a deferred consideration clause based on
results achieved up to 30 June 2009, it must pay a sum of GBP298,631.20 in cash
and transfer 1,327,414 ordinary shares in the Company from Treasury to the
previous owners of Chapter 26. The terms of the deferred consideration were set
out in full in the announcement released on 23 July 2008.
Following the transfer of Treasury shares to the vendors of Chapter 26, the
Company now holds 51,054 ordinary shares in Treasury and Mr Mark Ward and Mr
Mark Boxhall each have an interest in 1,283,532 ordinary shares in IS Solutions,
representing 5.1 per cent of the Company's issued ordinary share capital.
In accordance with FSA's Disclosure and Transparency Rules, the Company advises
that its capital consists of 24,793,190 ordinary shares of 2p each. The voting
rights of these shares are identical with each share carrying the right to one
vote. The Company now holds 51,054 ordinary shares in Treasury. Therefore the
total number of the Company's ordinary shares with voting rights is 24,742,136.
The above figure of 24,742,136 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
Disclosure and Transparency Rules.
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| Enquiries | |
| : | |
+------------------------------------+------------------------------------+
| John Lythall, Managing Director | Fiona Tooley/Keith Gabriel |
+------------------------------------+------------------------------------+
| IS Solutions Plc | Citigate Dewe Rogerson Ltd |
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| Tel: +44 (0) 1932 893333 | Tel: +44 (0)121 362 4035 |
+------------------------------------+------------------------------------+
| www.issolutions.co.uk | Mobile: +44 (0) 7785 703523 |
+------------------------------------+------------------------------------+
| | |
+------------------------------------+------------------------------------+
| Charles Cunningham | |
+------------------------------------+------------------------------------+
| FinnCap | |
+------------------------------------+------------------------------------+
| Tel: +44 (0) 207 600 1658 | |
+------------------------------------+------------------------------------+
| Ticker: AIM: ISL | |
+------------------------------------+------------------------------------+
This information is provided by RNS
The company news service from the London Stock Exchange
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