3rd Aug 2009 07:00
Press Release 3 August 2009
Ten Alps plc
Issue of Shares
Ten Alps Plc (AIM:TAL) ("Ten Alps") the factual media company, has issued 775,610 ordinary shares of 2p each ("New Shares") as part of the deferred consideration for the acquisition of DBDA, a business providing corporate social responsibility factual content.
As announced by Ten Alps on 18 June 2007, the acquisition of DBDA included deferred consideration based on the performance of DBDA over the subsequent 2.5 years.
Ten Alps is pleased to report that DBDA has performed significantly above the top tier of those initial expectations.
DBDA management have chosen to take partial payment of the deferred consideration in Ten Alps equity, with the remainder settled in cash.
Application has been made for the admission of the 775,610 New Shares to trading on AIM, which is expected to occur on 7 August 2009, and which will rank pari passu with existing ordinary shares in the Company.
Following admission to trading of the New Shares, Ten Alps will have an issued share capital of 64,689,686 Ordinary Shares of 2 pence each.
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Ten Alps plc |
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Alex Connock, CEO |
Tel: +44 (0) 20 7878 2311 |
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c/o Moira McManus |
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www.tenalps.com |
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Grant Thornton, Nominated Adviser |
Tel: +44 (0) 20 7383 5100 |
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Fiona Owen / Robert Beenstock |
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Canaccord Adams, Broker |
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Mark Williams / Adria Da Breo Richards |
Tel: +44 (0) 20 7050 6500 |
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www.canaccordadams.com |
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Pelham Public Relations |
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Alex Walters / Francesca Tuckett |
Tel: +44 (0) 20 7337 1500 |
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www.pelhampr.com |
Related Shares:
Zinc Media