29th Dec 2009 09:54
Impact Holdings (UK) plc ("IHUK", "the Group" or "the Company") Result of AGM and GM and Director Dealing
The Board of Impact Holdings (UK) plc is pleased to announce that all resolutions were duly passed at the Company's Annual General Meeting and the General Meeting ("GM") to approve the acquisition of Sutherland Professional Funding Limited ("Sutherland") held earlier today.
Following shareholder approval at the GM, 1,066,666 ordinary shares of 50p each in the capital of the Company ("Ordinary Shares") will be admitted to trading on AIM at 8:00 am tomorrow to satisfy the consideration payable to the vendors of Sutherland ("Consideration Shares").
466,666 of the Consideration Shares ("Vendor Placing Shares") are being placed with Directors and other third parties ("Vendor Placing"). The Directors are participating in the Vendor Placing as follows:
Name Ordinary Shares Price Number of Percentage acquired under (pence per Ordinary Shares Holding the Vendor share) Following following Placing Agreement Admission Admission % Richard Kilsby 26,667 75 155,370 7.06 David Hughes 6,667 75 16,667 0.75 Paul Davies 26,667 75 84,370 3.83 Roger Barlow 26,667 75 26,667 1.21 Stuart Burn 6,666 75 6,666 0.30
In addition, John Russell, Non-Executive Director, and his wife are acquiring in aggregate 133,333 Vendor Placing Shares at a price of 75p per Ordinary Share. Following this purchase John Russell and his wife will be beneficially interested in 340,492 Ordinary Shares representing 15.5 per cent. of the issued shared capital of the Company following the issue and allotment of the Consideration Shares.
John G Russell (Transport) Limited, a company in which John Russell and his wife hold in aggregate 50.7 per cent. of the issued share capital, is also acquiring 133,333 Vendor Placing Shares at a price of 75p per Ordinary Share increasing its holding to 607,407 Ordinary Shares. Including the interests of John G Russell (Transport) Limited in the Company's Ordinary Shares, John Russell and his wife's ultimate beneficial holding will be 947,899 Ordinary Shares representing 43 per cent. of the issued shared capital of the Company following the issue and allotment of the Consideration Shares.
Following Admission of the Consideration Shares the Company's total issued share capital will comprise 2,200,000 Ordinary Shares, all of which carry voting rights, and 10,200,006 non-voting Ordinary B Shares.
The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or change to their interest in, Impact under the FSA's Disclosure and Transparency Rules.
For further information:Impact Holdings (UK) plc
Paul Davies, Chief Executive Officer Tel: 0161 437 9499
Daniel Stewart & Company plc
Simon Leathers/Oliver Rigby Tel: 020 7776 6550
Notes to Editor:
Impact Holdings (UK) plc through its individual subsidiaries provides short term funding solutions, loans administration and IT support services in two specific sectors:
1. The legal disbursements market;
2. Property based bridging and development market.
In addition Impact will fund other opportunities where debt instruments or debentures provide the primary security and there are opportunities for short term bespoke funding where serviceability precludes larger lenders from entering this area.
Impact is regulated by The Office of Fair Trading through which it is licensed to lend under the Consumer Credit Act 1974.
vendorRelated Shares:
IHUK.L