IDOX PLC Payment of Earnout and Allotment of Shares (4636C)

TIDMIDOX

RNS Number : 4636C

IDOX PLC

13 June 2023

13 June 2023

Idox plc

("Idox", "the Company" or "the Group")

Payment of Earnout and Allotment of Shares

Idox plc (AIM: IDOX) a leading supplier of specialist information management software and solutions to the public and asset-intensive sectors, announces that it has issued 814,336 new ordinary shares of 1 pence each in the Company ("Earn Out Shares") as part payment of the third earn-out consideration in respect of its acquisition of Aligned Assets Limited, as announced on 7 June 2021 ("Acquisition"). The third earn-out will be paid in full on 14 June 2023, comprising GBP0.5m in cash and 814,336 shares. The earn-out was based on providing certain product deliverables during the 18-month period following the Acquisition. The total consideration was GBP10.5m, of which GBP7.5m was paid in cash at the time of the Acquisition in June 2021. The total earn-out consideration for the Acquisition comprised a payment of GBP1.5m in cash, and 2,443,000 in shares, payable over a 24-month period. These amounts will complete the full consideration for the Acquisition.

Applications have been made for the 814,336 Earn Out Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will occur at 8.00 a.m. on or around 14 June 2023 .

The total number of ordinary shares in issue following Admission will be 454,363,314. The Company does not hold any ordinary shares in treasury. Therefore, the total number of ordinary shares with voting rights in the Company will be 454,363,314.

The above figure of 454,363,314 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 a change to their interest in, the Company under the FCA's Disclosure and Transparency Rules.

For further information please contact:

   Idox plc                                                              [phone] 

Chris Stone, Non-Executive Chairman

David Meaden, Chief Executive

Anoop Kang, Chief Financial Officer

   Peel Hunt LLP (NOMAD and Broker)              [phone] 

Paul Gillam

Michael Burke

James Smith

   MHP Communications                                    + 44 (0) 203 128 8276 
   Reg Hoare                                                         [e-mail] 

Ollie Hoare

Matthew Taylor

About Idox plc

For more information see www.idoxplc.com , @Idoxgroup

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June 13, 2023 02:00 ET (06:00 GMT)