21st Dec 2006 11:50
Statpro Group PLC21 December 2006 For immediate release 21 December 2006 STATPRO GROUP PLC("StatPro" or the "Group") Exercise of Option to acquire Minority and Issue of shares StatPro announces that the Company will acquire the 49 per cent. of StatProItalia Srl that it does not currently own following the exercise of the optionunder the Option agreement between StatPro Group plc and the minorityshareholders of StatPro Italia (formerly RiskMap Srl) dated 3 October 2003. The consideration payable will be 49 per cent. of the value of the business,which will be approximately equivalent to the annualised recurring revenue ofcontracts for StatPro Risk Management and risk consulting as at 31 December2006, adjusted for net assets. StatPro has also agreed to issue 125,000 ordinaryshares of 1p each in the Company ("Ordinary Shares"), conditional upon thecompletion of the acquisition, to certain of the minority shareholders ofStatPro Italia when the option exercise is completed on 28 February 2007. Theshare price of the Ordinary Shares will be 97.5 pence per share which is basedupon the average closing offer price for the twenty trading days up to andincluding 19 December 2006 and represents a discount of 6.3% to the mid-marketprice as at 20 December 2006. Application will be made for the admission to AIM of the Ordinary Shares. Thenew Ordinary Shares will rank pari passu with the Company's existing issuedordinary shares. Admission and dealings in the Ordinary Shares are expected tooccur in early March 2007. Ends For further information, please contact: StatPro Group plc www.statpro.comJustin Wheatley, Chief Executive 020 8410 9876Andrew Fabian, Finance Director Arbuthnot Securities LimitedTom Griffiths/Neil Kirton 020 7012 2000 SmithfieldReg Hoare 020 7360 4900 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
StatPro