12th Nov 2007 07:00
Motivcom PLC12 November 2007 12 November 2007 Motivcom plc ("Motivcom" or "the Company") Result of EGM, Acquisition of Zibrant Limited and Appointment of Director Result of EGM Motivcom plc (AIM:MCM), a leading marketing services company specialising in thebusiness to employee sector providing incentive and motivation services to arange of UK and international clients, announces that at its EGM held on Friday9 November, all resolutions were passed. Completion of Acquisition Further to the EGM, and the Company's announcement on 17 October 2007 in whichit was announced that the Company would undertake a proposed placing and hadentered into a conditional acquisition agreement to acquire Zibrant Limited andits subsidiaries ("Zibrant"), the Company has now completed the acquisition ofZibrant. Motivcom has today paid an initial consideration of £15,000,000 for the entireissued share capital of Zibrant. This was satisfied as to £725,000 by the issueof 557,693 new Motivcom ordinary shares of 0.5p each ("Ordinary Shares") toZibrant vendors at 130p a share and as to £14,275,000 in cash. Zibrant vendorsalso subscribed for 2,307,692 Ordinary Shares also at 130p a share so that thenet cash outlay of Motivcom was £11,275,000. To part fund the cash considerationfor the acquisition Motivcom raised approximately £3,100,000 (before expenses)by way of a placing of 2,384,615 new Ordinary Shares at 130p per share. Admission to Trading Admission to trading of the 5,250,000 new Ordinary Shares has taken place today.As a result of the issue of those Ordinary Shares, the Company has 30,867,270Ordinary Shares in issue. Significant Shareholding Pursuant to the arrangements described above, Hanover Capital OverseasCorporation, ("Hanover") as beneficial owner, today acquired 1,557,692 OrdinaryShares, which is Hanover's total holding of Ordinary Shares, and represents 5.0per cent. of the total voting rights of the Company. The shareholdings ofexisting substantial shareholders may change following the issue of the newOrdinary Shares under the placing described above. The Company will issue anotification at a later date if it becomes aware of any relevant changes in suchshareholdings that are required to be notified in accordance with Rule 17 of theAIM Rules. Appointment of director The Company is also pleased to announce the appointment today of ChristopherWilliam John Madge, aged 53, the managing director of Zibrant, to the MotivcomBoard. Pursuant to the arrangements described above Mr. Madge, as a Zibrantvendor, today acquired (as beneficial owner) 201,924 Ordinary Shares, which ishis total holding of Ordinary Shares, and represents 0.65 per cent. of the totalvoting rights of the Company. Mr. Madge is currently, or has been within the previous five years, a partner ordirector of the following organisations: Current appointments Previous appointmentsDerby and Sandiacre Canal Trust Business Link Derbyshire LimitedGowercroft LtdHotel Booking Agents AssociationIn Business Reservations LimitedMadge Brothers (a partnership)McGarvey Russell LtdPeter Rand LimitedZibrant Limited Mr. Madge was a director, company secretary and major shareholder of AmbergladeLimited ("Amberglade") when it was subject to a creditors voluntary liquidation.The liquidator was appointed in November 1996 and Amberglade was finallydissolved on 7 February 1998. The Company confirms there is no other information that falls to be disclosedunder Schedule 2 paragraph (g) of the AIM Rules. -Ends- For further information:Motivcom plcSue Hocken Tel: +44 (0) 1908 608 [email protected] www.motivcom.com Grant Thornton UK LLPPhilip Secrett/Fiona Owen Tel: +44 (0)207 383 [email protected]/[email protected] www.gtuk.com Numis Securities LimitedDavid Poutney/James Serjeant Tel: +44 (0)207 260 1000 Media enquiries:AbchurchHeather Salmond/ Georgina Bonham Tel: +44 (0) 20 7398 [email protected] www.abchurch-group.com Notes to Editors: Motivcom plc is a leading marketing services company in the business to employeesector providing incentive and motivation services to blue chip UK andinternational clients. Motivcom drives performance of direct and third partyemployees using motivation and incentive techniques for human capitalmanagement. The Company also has a fast growing consumer incentives business.Motivcom's core business divisions include: motivation and incentive programmes,incentive travel and events, employee benefits and sales promotion. Motivcom'sactivities in each sub-sector help to improve staff productivity, retention,absenteeism and increase product sales respectively. The management team has been in place since 2002. It follows a strong organicand acquisitive growth strategy. Motivcom's organic growth is driven byinvestments in innovative products such as the recently launched Spree-visacard. Since 2002, the Company has acquired Fotorama, Archer Young Ltd,Summersault Ltd, The Voucher Shop and Motivation Travel Management Limited allof which have been successfully integrated into the Company. Motivcom isconstantly exploring new acquisition targets in existing and complementary areasto further strengthen the Company's position in the business to employee space. Motivcom plc is based in Milton Keynes. It listed on the AIM market of theLondon Stock Exchange in August 2004 under the name P&MM Group plc. P&MM Groupplc was re-branded Motivcom plc (AIM: MCM) in March 2006. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
MCM.L