7th Jun 2007 15:20
IDOX PLC07 June 2007 IDOX plc7 June 2007 IDOX plc ("IDOX" or the "Company") Completion of acquisition of CAPS Solutions Ltd, directorate change and directors' dealings The Board of IDOX plc (AIM:IDOX), the information management company,specialising in the development and delivery of software products, services andpeople predominantly to the public sector, is pleased to announce that it hasformally completed the acquisition of CAPS Solutions Limited ("CAPS") for £21million. Steve Ainsworth, the managing director of CAPS, today joins the IDOXBoard as Chief Executive Officer and Martin Brooks reverts to his previous roleas Chairman. In order to finance in part the acquisition of CAPS and provide the EnlargedGroup with sufficient working capital, the Company raised £11.0 million (£9.6million after expenses) by way of a placing of new ordinary shares, completionof which was announced yesterday. Certain members of the Board of IDOXparticipated in the placing, subscribing on 6 June 2007 for a total of 5,733,334new ordinary shares as detailed below. Name Number of Purchase Total holding at the date of this shares price announcement purchased Number of ordinary % of issued shares share capitalMartin Brooks* 1,333,333 7.5p 2,088,173 0.6%Richard Kellett-Clarke** 2,666,667 7.5p 3,266,667 1.0%Steve Ainsworth*** 1,066,667 7.5p 1,066,667 0.3%John Wisbey **** 666,667 7.5p 12,643,333 3.7% * Martin Brooks purchased these shares through a Self Invested Pension Plans (SIPP) and now holds 1,902,127 shares through his SIPPs and 186,046 shares directly. ** Richard Kellett-Clarke acquired 1,466,667 shares through a SIPP. In addition, certain members of his family and a family trust acquired a total of 1,200,000 shares. He is now interested in a personal capacity in 2,066,667 ordinary shares in IDOX, of which 1,466,667 are held through a SIPP, and indirectly holds a total of 1,200,000 shares through certain members of his family and a family trust. *** Steve Ainsworth purchased his shares through a SIPP. **** John Wisbey is interested in a personal capacity in 1,376,667 ordinary shares in IDOX, representing 0.4% of the current issued share capital. John Wisbey also holds an interest in IDOX through the shareholding of Advanced Technology Trust which holds 11,266,666 ordinary shares representing 3.3% of the current issued share capital. John Wisbey is a beneficiary of Advanced Technology Trust. On 7 June 2007 the Company granted options over 4,500,000 shares to SteveAinsworth on the recommendation of the Remuneration Committee following itsmeeting on 26 April 2007. The options are granted under both the IDOX PLCEnterprise Management Incentive Scheme and the IDOX PLC Share Option Plan. Theoptions granted are detailed below: Scheme or Plan Number of shares Exercise price Vesting Latest exercise dateEMI Scheme 1,230,769 8.125p From grant 31 October 2011Option Plan 1,019,231 8.125p From grant 31 October 2011Option Plan 2,250,000 11.125p From grant 31 October 2014 The Company has 341,927,567 ordinary shares of 1p in issue. This figurerepresents the total number of voting rights in the Company and may be used byshareholders as the denominator for the calculations by which they willdetermine if they are required to notify their interest in, or a change to theirinterest in, the Company under the FSA's Disclosure and Transparency Rules. Martin Brooks, Chairman of IDOX, said: "This transforming acquisition, where the placing was significantlyoversubscribed, completes today and this marks a significant milestone in thefurther development of IDOX plc. Also from today Steve Ainsworth takes on therole of Chief Executive Officer and I am sure Steve and the new combined teamwill take every advantage of the opportunities we now have as a larger and morecapable organisation. The Company is well advanced in preparing its integrationplan to bring both businesses together. Formal consultation on this, through anewly elected staff council, starts today. " Steve Ainsworth, CEO of IDOX, said: "I am extremely pleased that we have completed this transaction and we arebringing the two companies together. IDOX and CAPS already have a long historyof collaboration and now as a combined entity we will be able to offer a broaderrange of solutions and services to our customers and increased opportunities forour staff. This merger provides us with a very solid platform for furthersignificant growth and I am personally excited to be given the opportunity tolead this new organisation." For further information, call: IDOX plcMartin Brooks, Chairman 0870 333 7101Steve Ainsworth, CEO 0870 333 7101Richard Kellett-Clarke, COO/CFO 0870 333 7101 Noble & Company LimitedMatthew Hall, Director 020 7763 2200 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Idox Group