16th Apr 2009 07:00
Cello Group plc
(the "Company")
Additional listing / TVR
The Company announces that on 15 April 2009 it resolved to issue 13,471,067 new ordinary shares of 10p each ("Ordinary Shares") pursuant to earn out arrangements contained in the share purchase agreements with the vendors of The Value Engineers Limited, The MSI Consultancy Limited, Magnetic Advertising Company Limited and Market Research International Limited. These shares have been issued to settle earn out commitments which were detailed in the recent results announcement of 17 March 2009. Application will today be made for these shares to be admitted to trading on AIM and admission is expected to occur on 21 April 2009.
The Value Engineers Limited, The MSI Consultancy Limited, Magnetic Advertising Company Limited and Market Research International Limited are material subsidiaries of the Company. The new Ordinary Shares will be issued to the vendors and certain key employees of these subsidiaries, who will be subject to restrictions requiring them not to sell the new Ordinary Shares for at least one year and up to four years from issue.
The Company's issued share capital, following this issue of 13,471,067 new Ordinary Shares, will be 58,032,670 Ordinary Shares. The new Ordinary Shares will rank from admission pari passu in all respects with the existing Ordinary Shares in issue. The Company holds 237,000 Ordinary Shares in treasury at the date of this announcement. The total number of current voting rights in the Company will therefore be 57,795,670 shares.
The above figure (57,795,670 Ordinary Shares) may be used by shareholders as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change in their interest in, the Company under the FSA's Disclosure and Transparency Rules.
Enquiries:
Cello Group plc Mark Bentley, Group Finance Director 020 7812 8460
Singer Capital Markets Limited Nick How 020 3205 7500
Related Shares:
CLL.L