22nd Feb 2010 13:55
22 February 2010
IQ Holdings plc
("IQH" or the "Company")
Agreement of consideration shares
Further to the announcement made on 1 February 2010, the Board of IQ Holdings plc announces that the consideration payable to IQH by Rivington Street Holdings plc ("RSH) has now been agreed. The amount payable is 5,000,000 ordinary fully paid RSH shares which have been issued today.
In addition, as detailed in the Circular, IQH has undertaken as soon as practicable to apply to the Court for a confirmation of the proposed cancellation of the capital redemption reserve, share premium account and reduction of share capital to allow the Company to distribute the majority of the RSH shares to IQH Shareholders. A further announcement regarding timetable will be made in due course.
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For further information, please contact:
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IQ Holdings plc |
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John Mitchel |
Tel: +44 (0)20 8099 0560 |
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Nominated Adviser: Grant Thornton Corporate Finance |
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Gerry Beaney |
Tel: +44 (0) 20 7383 5100 |
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Nominated Broker: Rivington Street Corporate Finance |
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Dru Edmonstone |
Tel: +44 (0)20 7562 3389 |
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Financial PR: Bishopsgate Communications |
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Robyn Samuelson / Gemma O'Hara |
Tel: +44 (0) 20 7562 3355 |
For details of the transaction please see the Company's announcement made on 24 December 2009. For the full Circular, please visit the Company's website at www.iqholdings.co.uk.
Unless otherwise defined in this announcement, capitalised words and phrases used in this announcement shall have the same meanings given to them in the Circular dated 24 December 2009.
Related Shares:
1Spatial Holdings