Schedule 1 Update - IS Soluti

ANNOUNCEMENT TO BE MADE BY THE AIM APPLICANT PRIOR TO ADMISSION IN ACCORDANCE WITH RULE 2 OF THE AIM RULES FOR COMPANIES ("AIM RULES")

COMPANY NAME:

IS Solutions plc

COMPANY REGISTERED OFFICE ADDRESS AND IF DIFFERENT, COMPANY TRADING ADDRESS (INCLUDING POSTCODES) :

Windmill House

91-93 Windmill Road

Sunbury-on-Thames

Middlesex

TW16 7EF

COUNTRY OF INCORPORATION:

England

COMPANY WEBSITE ADDRESS CONTAINING ALL INFORMATION REQUIRED BY AIM RULE 26:

www.issolutions.co.uk

COMPANY BUSINESS (INCLUDING MAIN COUNTRY OF OPERATION) OR, IN THE CASE OF AN INVESTING COMPANY, DETAILS OF ITS INVESTING STRATEGY).  IF THE ADMISSION IS SOUGHT AS A RESULT OF A REVERSE TAKE-OVER UNDER RULE 14, THIS SHOULD BE STATED:

The Company is a Systems Integrator whose principal activities are the design, installation and management of Line of Business web based systems to public and private sector clients.

The Company specialises in Internet Solutions based around Online Customer Analytics, Content and Document Management, Online Meetings and Training, Systems Integration and IT Services. 

The Company's operations consist of Consultancy, Development, Creative Design, Training and Support Services and also the distribution of software products.

The Company operates predominantly in the United Kingdom.

DETAILS OF SECURITIES TO BE ADMITTED INCLUDING ANY RESTRICTIONS AS TO TRANSFER OF THE SECURITIES (i.e. where known, number and type of shares, nominal value and issue price to which it seeks admission and the number and type to be held as treasury shares):

24,793,190 Ordinary Shares of 2 pence each.

CAPITAL TO BE RAISED ON ADMISSION (IF APPLICABLE) AND ANTICIPATED MARKET CAPITALISATION ON ADMISSION:

No capital is to be raised on admission to AIM. The current market capitalisation of the Company on the Official List of the London Stock Exchange is £5.76m and is not expected to change on admission to AIM.

PERCENTAGE OF AIM SECURITIES NOT IN PUBLIC HANDS AT ADMISSION:

85.85%

DETAILS OF ANY OTHER EXCHANGE OR TRADING PLATFORM TO WHICH THE AIM SECURITIES (OR OTHER SECURITIES OF THE COMPANY) ARE OR WILL BE ADMITTED OR TRADED:

Not Applicable

FULL NAMES AND FUNCTIONS OF DIRECTORS AND PROPOSED DIRECTORS (underlining the first name by which each is known or including any other name by which each is known):

Barrie Clark (Non-Executive Director and Chairman)

John Lythall (Director and Chief Executive)

Peter Kear (Director)

Jonathan West (Director)

James Dodkins (Director)

Peter English (Non-Executive Director)

Roger McDowell (Non-Executive Director)

Michael Tinling (Non-Executive Director and Company Secretary)

FULL NAMES AND HOLDINGS OF SIGNIFICANT SHAREHOLDERS EXPRESSED AS A PERCENTAGE OF THE ISSUED SHARE CAPITAL, BEFORE AND AFTER ADMISSION (underlining the first name by which each is known or including any other name by which each is known):

The Company is aware of the following shareholdings which, as at 15 May 2008 (being the latest practicable date prior to this announcement), represent 3% or more of each share class in the issued share capital of the Company before and after Admission:

Pershing Keen Nominees 22.54%

Chase Nominees 17.19%

John Lythall 9.07%

Barclayshare Nominees 7.33%

Peter Kear 5.00%

Giltspur Nominees 4.97%

John Peter Johnstone 3.23%

NAMES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE 2, PARAGRAPH (H) OF THE AIM RULES:

Not Applicable

ANTICIPATED ACCOUNTING REFERENCE DATE 

DATE TO WHICH THE MAIN FINANCIAL INFORMATION IN THE ADMISSION DOCUMENT HAS BEEN PREPARED

DATES BY WHICH IT MUST PUBLISH ITS FIRST THREE REPORTS PURSUANT TO AIM RULES 18 AND 19

(i) 31 December

(ii) Not Applicable

(iii) 1.  Interim accounts for the period ending 30 June 2008 must be published by 30 September 2008

2. Annual Report & Accounts for the year ending 31 December 2008 must be published by 30 June 2009

3.  Interim accounts for the period ending 30 June 2009 must be published by 30 September 2009

EXPECTED ADMISSION DATE:

16 June 2008

NAME AND ADDRESS OF NOMINATED ADVISER:

Brewin Dolphin Limited

48 St Vincent Street

Glasgow G2 5TS

NAME AND ADDRESS OF BROKER:

Brewin Dolphin Limited

48 St Vincent Street

Glasgow G2 5TS

OTHER THAN IN THE CASE OF A QUOTED APPLICANT, DETAILS OF WHERE (POSTAL OR INTERNET ADDRESS) THE ADMISSION DOCUMENT WILL BE AVAILABLE FROM, WITH A STATEMENT THAT THIS WILL CONTAIN FULL DETAILS ABOUT THE APPLICANT AND THE ADMISSION OF ITS SECURITIES:

Not Applicable - Quoted Applicant

DATE OF NOTIFICATION:

27 May 2008

NEW/UPDATE:

Update

QUOTED APPLICANTS MUST ALSO COMPLETE THE FOLLOWING:

THE NAME OF THE AIM DESIGNATED MARKET UPON WHICH THE APPLICANT'S SECURITIES HAVE BEEN TRADED:

The Official List of the London Stock Exchange

THE DATE FROM WHICH THE APPLICANT'S SECURITIES HAVE BEEN SO TRADED:

17 May 2000

CONFIRMATION THAT, FOLLOWING DUE AND CAREFUL ENQUIRY, THE APPLICANT HAS ADHERED TO ANY LEGAL AND REGULATORY REQUIREMENTS INVOLVED IN HAVING ITS SECURITIES TRADED UPON SUCH A MARKET OR DETAILS OF WHERE THERE HAS BEEN ANY BREACH:

IS Solutions plc, having made due and careful enquiry, confirms that as at the date hereof it has adhered to the legal and regulatory requirements involved in having its securities traded on the Official List of the London Stock Exchange.

AN ADDRESS OR WEB-SITE ADDRESS WHERE ANY DOCUMENTS OR ANNOUNCEMENTS WHICH THE APPLICANT HAS MADE PUBLIC OVER THE LAST TWO YEARS (IN CONSEQUENCE OF HAVING ITS SECURITIES SO TRADED) ARE AVAILABLE:

www.issolutions.co.uk

DETAILS OF THE APPLICANT'S STRATEGY FOLLOWING ADMISSION INCLUDING, IN THE CASE OF AN INVESTING COMPANY, DETAILS OF ITS INVESTING STRATEGY:

It is the Director's intention that following the admission to AIM the business of IS Solutions plc will be continued in substantially the same manner as at present.

A DESCRIPTION OF ANY SIGNIFICANT CHANGE IN FINANCIAL OR TRADING POSITION OF THE APPLICANT, WHICH HAS OCCURRED SINCE THE END OF THE LAST FINANCIAL PERIOD FOR WHICH AUDITED STATEMENTS HAVE BEEN PUBLISHED:

There has been no material change in the Company's financial or trading position since the end of the last period for which audited statements have been published being 31 December 2007.

A STATEMENT THAT THE DIRECTORS OF THE APPLICANT HAVE NO REASON TO BELIEVE THAT THE WORKING CAPITAL AVAILABLE TO IT OR ITS GROUP WILL BE INSUFFICIENT FOR AT LEAST TWELVE MONTHS FROM THE DATE OF ITS ADMISSION:

The Directors of IS Solutions plc have no reason to believe that the working capital available to the Company will be insufficient for at least twelve months from the date of admission to AIM.

DETAILS OF ANY LOCK-IN ARRANGEMENTS PURSUANT TO RULE 7 OF THE AIM RULES:

Not Applicable

A BRIEF DESCRIPTION OF THE ARRANGEMENTS FOR SETTLING THE APPLICANT'S SECURITIES:

Trading in the Company's shares are settled through CREST.

A WEBSITE ADDRESS DETAILING THE RIGHTS ATTACHING TO THE APPLICANT'S SECURITIES:

www.issolutions.co.uk 

INFORMATION EQUIVALENT TO THAT REQUIRED FOR AN ADMISSION DOCUMENT WHICH IS NOT CURRENTLY PUBLIC:

Not applicable

A WEBSITE ADDRESS OF A PAGE CONTAINING THE APPLICANT'S LATEST ANNUAL REPORT AND ACCOUNTS WHICH MUST HAVE A FINANCIAL YEAR END NOT MORE THEN NINE MONTHS PRIOR TO ADMISSION AND INTERIM RESULTS WHERE APPLICABLE. THE ACCOUNTS MUST BE PREPARED IN ACCORDANCE WITH ACCOUNTING STANDARDS PERMISSIBLE UNDER AIM RULE 19:

www.issolutions.co.uk

THE NUMBER OF EACH CLASS OF SECURITIES HELD IN TREASURY:

1,663,118 Ordinary Shares of 2 pence each