TIDMVEL
RNS Number : 4746B
AIM
28 October 2009
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| ANNOUNCEMENT TO BE MADE BY THE AIM APPLICANT PRIOR TO ADMISSION IN |
| ACCORDANCE WITH RULE 2 OF THE AIM RULES FOR COMPANIES ("AIM RULES") |
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| |
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| COMPANY NAME: |
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| Velti plc |
| |
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| COMPANY REGISTERED OFFICE ADDRESS AND IF DIFFERENT, COMPANY TRADING |
| ADDRESS (INCLUDING POSTCODES) : |
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| Registered office: 22 Grenville Street, St Helier, Jersey JE4 8PX |
| Trading address: First Floor, 28-32 Pembroke Street Upper, Dublin 2, |
| Republic of Ireland |
| |
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| COUNTRY OF INCORPORATION: |
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| Currently UK but is re-domiciling and on Admission will be Jersey |
| incorporated |
| |
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| COMPANY WEBSITE ADDRESS CONTAINING ALL INFORMATION REQUIRED BY AIM RULE |
| 26: |
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| www.velti.com |
| |
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| 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: |
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| The Company's principal activity is the provision of mobile marketing and |
| advertising solutions for mobile operators, advertising agencies and media |
| groups. |
| Velti plc ("Velti" or "Old Velti") announced on 23 October 2009 a proposed |
| scheme of arrangement (the "Scheme") under sections 895 to 899 of the |
| Companies Act 2006 (the "Act") relating to the corporate structure of |
| Velti. The Scheme will entail introducing a new Jersey-incorporated, |
| AIM-listed company also to be named Velti plc ("New Velti") as the holding |
| company of Velti and its subsidiary undertakings (the "Group"). New Velti |
| will be tax resident in the Republic of Ireland. |
| Under the Scheme, all of the existing holders of Old Velti ordinary shares |
| will have their shares cancelled in consideration for which they will |
| receive ordinary shares in New Velti on a one-for-one basis. The |
| respective holdings of shareholders in New Velti upon the Scheme becoming |
| effective will therefore be the same as the respective holdings of |
| shareholders in Old Velti immediately prior to the Scheme becoming |
| effective. |
| |
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| 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): |
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| 37,530,261 Ordinary Shares of 5p each |
| |
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| CAPITAL TO BE RAISED ON ADMISSION (IF APPLICABLE) AND ANTICIPATED MARKET |
| CAPITALISATION ON ADMISSION: |
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| Anticipated market capitalisation GBP70 million approx |
| |
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| PERCENTAGE OF AIM SECURITIES NOT IN PUBLIC HANDS AT ADMISSION: |
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| 67.68% |
| |
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| DETAILS OF ANY OTHER EXCHANGE OR TRADING PLATFORM TO WHICH THE AIM |
| SECURITIES (OR OTHER SECURITIES OF THE COMPANY) ARE OR WILL BE ADMITTED OR |
| TRADED: |
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| N/A |
| |
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| 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): |
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| David Mann, Non Executive Chairman |
| Alexandros Moukas, Chief Executive Officer |
| Chris Kaskavelis, Chief Operating Officer |
| Menelaos Scouloudis, Chief Commercial Director |
| David Hobley, Non Executive Director |
| Jerry Goldstein, Non Executive Director |
| Nicholas Negroponte, Non Executive Director |
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| 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): |
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| Chris Kaskavelis - 12.27% |
| Alexandros Moukas - 10.92% |
| Fidelity Investments Limited - 9.97% |
| F&C Asset Management - 5.56% |
| Banco Commercial Potrugues - 6.59% |
| Intana Management LLC - 4.37% |
| Menelaos Scouloudis - 4.90% |
| EFG Eurobank Ergasias SA Bank - 3.18% |
| Silvercreek Capital Management LLC - 3.10% |
| |
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| NAMES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE 2, |
| PARAGRAPH (H) OF THE AIM RULES: |
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| n/a |
| |
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| * ANTICIPATED ACCOUNTING REFERENCE DATE * |
| DATE TO WHICH THE MAIN FINANCIAL INFORMATION IN THE ADMISSION DOCUMENT HAS |
| BEEN PREPARED (this may be represented by unaudited interim financial |
| information)* |
| DATES BY WHICH IT MUST PUBLISH ITS FIRST THREE REPORTS PURSUANT TO AIM |
| RULES 18 AND 19: |
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| (i) 31 December |
| (ii)NA |
| (ii)30 June 2010, 30 September 2010, 30 June 2011 |
| |
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| EXPECTED ADMISSION DATE: |
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| 18 December 2009 |
| |
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| NAME AND ADDRESS OF NOMINATED ADVISER: |
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| Royal Bank of Canada Europe Limited, 71 Queen Victoria Street, London EC4V |
| 4DE |
| |
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| NAME AND ADDRESS OF BROKER: |
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| Royal Bank of Canada Europe Limited, 71 Queen Victoria Street, London EC4V |
| 4DE |
| |
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| 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: |
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| |
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| DATE OF NOTIFICATION: |
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| 28/10/2009 |
| |
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| NEW/ UPDATE: |
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| New |
| |
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| QUOTED APPLICANTS MUST ALSO COMPLETE THE FOLLOWING: |
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| |
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| THE NAME OF THE AIM DESIGNATED MARKET UPON WHICH THE APPLICANT'S |
| SECURITIES HAVE BEEN TRADED: |
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| AIM |
| |
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| THE DATE FROM WHICH THE APPLICANT'S SECURITIES HAVE BEEN SO TRADED: |
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| 3 May 2006 |
| |
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| CONFIRMATION THAT, FOLLOWING DUE AND CAREFUL ENQUIRY, THE APPLICANT HAS |
| ADHERED TO ANY LEGAL AND REGULATORY REQUIREMENTS INVOLVED IN HAVING ITS |
| SECURITIES TRADED UPON SUCH A MARKET OR DETAILS OF WHERE THERE HAS BEEN |
| ANY BREACH: |
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| Following due and careful enquiry, Velti plc confirm that it has adhered |
| to all legal and regulatory requirements involved in having its securities |
| traded on AIM. |
| |
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| AN ADDRESS OR WEB-SITE ADDRESS WHERE ANY DOCUMENTS OR ANNOUNCEMENTS WHICH |
| THE APPLICANT HAS MADE PUBLIC OVER THE LAST TWO YEARS (IN CONSEQUENCE OF |
| HAVING ITS SECURITIES SO TRADED) ARE AVAILABLE: |
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| www.velti.com |
| |
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| DETAILS OF THE APPLICANT'S STRATEGY FOLLOWING ADMISSION INCLUDING, IN THE |
| CASE OF AN INVESTING COMPANY, DETAILS OF ITS INVESTING STRATEGY: |
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| Following admission, the Group's principal activities will continue to be |
| the provision of mobile marketing and advertising solutions for mobile |
| operators, advertising agencies and media groups. |
| |
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| A DESCRIPTION OF ANY SIGNIFICANT CHANGE IN FINANCIAL OR TRADING POSITION |
| OF THE APPLICANT, WHICH HAS OCCURRED SINCE THE END OF THE LAST FINANCIAL |
| PERIOD FOR WHICH AUDITED STATEMENTS HAVE BEEN PUBLISHED: |
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| Other than as contained in the interim accounts for Velti plc for the |
| period ended 30 June 2009 or as otherwise notified by Velti via a |
| Regulatory Information Service, there has been no significant change in |
| the Group's financial or trading position since the end of the financial |
| period ended 31 December 2008. |
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| A STATEMENT THAT THE DIRECTORS OF THE APPLICANT HAVE NO REASON TO BELIEVE |
| THAT THE WORKING CAPITAL AVAILABLE TO IT OR ITS GROUP WILL BE INSUFFICIENT |
| FOR AT LEAST TWELVE MONTHS FROM THE DATE OF ITS ADMISSION: |
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| The Directors of Velti plc have no reason to believe that the working |
| capital available to the Velti or the Velti Group will be insufficient for |
| at least 12 months from the date of admission. |
| |
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| DETAILS OF ANY LOCK-IN ARRANGEMENTS PURSUANT TO RULE 7 OF THE AIM RULES: |
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| n/a |
| |
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| A BRIEF DESCRIPTION OF THE ARRANGEMENTS FOR SETTLING THE APPLICANT'S |
| SECURITIES: |
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| Velti's securities will be settled in CREST |
| |
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| A WEBSITE ADDRESS DETAILING THE RIGHTS ATTACHING TO THE APPLICANT'S |
| SECURITIES: |
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| www.velti.com |
| |
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| INFORMATION EQUIVALENT TO THAT REQUIRED FOR AN ADMISSION DOCUMENT WHICH IS |
| NOT CURRENTLY PUBLIC: |
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| Please see the AIM Appendix document at |
| http://www.velti.com/index.cfm/Investor_Relations/1030 |
| |
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| A WEBSITE ADDRESS OF A PAGE CONTAINING THE APPLICANT'S LATEST ANNUAL |
| REPORT AND ACCOUNTS WHICH MUST HAVE A FINANCIAL YEAR END NOT MORE THEN |
| NINE MONTHS PRIOR TO ADMISSION AND INTERIM RESULTS WHERE APPLICABLE. THE |
| ACCOUNTS MUST BE PREPARED IN ACCORDANCE WITH ACCOUNTING STANDARDS |
| PERMISSIBLE UNDER AIM RULE 19: |
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| www.velti.com |
| |
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| THE NUMBER OF EACH CLASS OF SECURITIES HELD IN TREASURY: |
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| n/a |
| |
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This information is provided by RNS
The company news service from the London Stock Exchange
END
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