22nd Jan 2010 15:12
THE INNOVATION GROUP PLC
ADDITIONAL LISTING - CONSIDERATION SHARES FOR INNOVATION PARTS
The Innovation Group plc today announces application has been made to the UK Listing Authority and the London Stock Exchange to the Official List and to trading on the London Stock Exchange's markets for listed securities in respect of 11,239,857 new Ordinary shares of 2p each.
The shares, amounting to €1.56m (approx. £1.38m), are to be issued in full and final settlement for the remaining 40% of Innovation Parts GmbH (formerly IFN GmbH).
It is expected that dealings in these ordinary new shares, which will rank pari passu in all respects with the existing ordinary share capital of the Group, will commence on Tuesday 26 January 2010. The total number of shares in issue following this allocation of shares will be 935,427,013.
Disclosures in this announcement are in accordance with rule 10.3.1 of the UK Listing Authority Rules.
For further information please contact:
|
The Innovation Group Andy Roberts, Executive Chairman Jane Hall, Group Finance Director |
Tel: +44 (0) 1489 898300 |
Notes to Editors
Innovation Group plc (LSE: TIG.L) is a specialist provider of enterprise software, business process outsourcing and repair and service network management solutions. We serve the global property and casualty insurance, financial services, motor and fleet industries. Through our local contact centres, technology, process automation and repair and supply chain networks we deliver customer support accident management including repair, estimation and claims management services.
Innovation has over 800 global clients including AXA Insurance, Main Street America Group, RSA, LeasePlan, The Ford Motor Company, Toyota and Zurich. The Group processes more than 4 million claims per year with 20% direct claims cost saving achieved. Our 2,300 people are located in United Kingdom, Australia, Belgium, Canada, France, Germany, India, Japan, Netherlands, Pakistan, South Africa, Spain and United States.
www.innovation-group.com
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