5th Jul 2016 11:00
LONDON (Alliance News) - Daily Internet PLC on Tuesday said its shareholders have approved the acquisition of System Professional Ltd and the subsequent change of the company's name to SysGroup PLC.
On June 15, managed hosting and cloud infrastructure provider Daily Internet agreed the acquisition of System Professional, a managed services and IT consultancy services provider, for up to GBP5.8 million in cash and shares.
The acquisition also included a proposed capital reorganisation consolidating every 40 existing shares into one new ordinary share.
The acquisition and consolidation were approved by Daily Internet shareholders on Tuesday, meaning it will change its name to SysGroup on Wednesday.
Shares in Daily Internet were untraded on Tuesday, having last traded at 1.60 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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