InterQuest to acquire remaining shares in RDW
Further to the announcement made on 3rd August 2016, InterQuest Group plc has served notice exercising its call option to acquire the remaining shares in RDW-RD Limited ("RDW").
Completion of the acquisition of the remaining RDW shares is expected to take place on 20th October 2016. On completion of the acquisition, a total of 205,333 shares in InterQuest will be issued to satisfy the remaining share-based consideration of RDW. Application will be made for the 205,333 new ordinary shares to be admitted to trading on AIM and it is expected that admission will take place on 21st October 2016.
In addition, the company announces that it has issued 80,000 new ordinary shares pursuant to the valid notice of exercise of options under the company's share option schemes. 80,000 options were exercised at an option price of 1 pence per share.
Application is being made for the 285,333 new ordinary shares to be admitted to trading on AIM and it is expected that admission will take place on 21st October 2016.
InterQuest states that the new ordinary shares will rank pari passu with the existing shares of the company. Following admission of the new ordinary shares, the total issued share capital of InterQuest will be 37,528,569 ordinary shares. The company holds 2,000 ordinary shares in treasury which do not carry voting rights and therefore the total number of shares with voting rights in the company is 37,526,569.
Picture courtesy of Pixabay