26th May 2006 07:01
Innovation Group PLC26 May 2006 For Immediate Release 26 May 2006 THE INNOVATION GROUP PLC Acquisition and Issue of Shares The Innovation Group ("the Group"), which provides outsourcing services andsoftware solutions to the world's insurance markets, today announces that it hasallotted 1,926,164 new Ordinary Shares of 2p each, worth in total £0.6m, in thecapital of the Group as payment to acquire 100% of Prophit Share Limited, aspecialist in claims leakage business intelligence for the insurance industry. Application will be made to the Official List of the UK Listing Authority and tothe London Stock Exchange for admission of the new Shares to the Official Listand to trading on the London Stock Exchange for listed securities in due course.It is expected that dealings in the new Shares, which will rank pari passu inall respects with the existing ordinary share capital of the Group, willcommence on 1 June 2006. The total number of shares in issue following thisallocation of shares will be 451,093,595. Enquiries: The Innovation Group plc 01489 898300Hassan Sadiq, Chief Executive Officer Paul Smolinski, Group Finance Director Smithfield 020 7360 4900Sara Musgrave/ Tania Wild This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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