1Spatial Plc Shares Acquisition and Notice of Results (1586C)

TIDMSPA

RNS Number : 1586C

1Spatial Plc

11 April 2017

11 April 2017

1Spatial plc (AIM: SPA)

("1Spatial", the "Group" or the "Company")

Acquisition of Remaining Shares and Notification of Results

The Board of 1Spatial, the global spatial software, service and data quality company which manages the world's largest spatial data, today announces the acquisition of the remaining shares in 1Spatial Inc. (previously Laser Scan Inc.) and Sitemap Ltd.

Following these two issues of shares, 1Spatial owns 100% of both companies with no consideration outstanding.

Acquisition of remaining shares in 1Spatial Inc.

The Company is pleased to announce that it has acquired the remaining 27% of its US subsidiary, 1Spatial Inc. for GBP738,892 (US$918,000) payable in shares in accordance with the terms set out in the original share purchase agreement (as announced on 3(rd) February 2015). This acquisition further strengthens 1Spatial's position in the US market which is a key focus and growth region for the Group in the coming years.

1Spatial Inc. is the sole distributor of 1Spatial's geospatial products and solutions in the Americas, and holds a significant on-going contract with the US Census and a recently secured contract with the State of Arizona, Department of Transport (the "Department"). 1Spatial's 1Integrate solution will enable the Department to automatically quality assure the information it receives from multiple contributing government bodies within the state which in turn will simplify and smooth the creation and maintenance of their state-wide dataset so they can meet the requirements set out by the Federal Highways Agency. Not only is this process quicker and less costly, it is also more accurate and this process allows for data to be sent at any time, thereby meaning the dataset is updated throughout the year rather than on an annual basis.

Following the acquisition Mary Brauer-Cox will be retiring as President of 1Spatial Inc., to be replaced by Sheila Steffenson. Ms Steffenson joined the business in March 2016 and has been managing business development across the Americas with a key focus on our 1Integrate for ArcGIS solutions on the Esri ArcGIS Platform, as part of 1Spatial's partnership with Esri Inc. She has over 25 years' experience in the Spatial market and has held senior management and sales positions at Esri Inc., bringing significant GIS knowledge and expertise to the business. Ms Brauer-Cox will remain involved to support Ms Steffenson on a part-time basis for a transitional period.

Acquisition of remaining shares in Sitemap Ltd.

1Spatial has today acquired the 51% of Sitemap Ltd. that it does not already own for GBP0.2m in shares.

The Company's investment in Sitemap to date has funded the development of a solution which locates and visualises sites which best fit commercial and residential property developer needs. The offering is still under development with market analysis, research and business development opportunities being reviewed.

Issue of new ordinary shares to satisfy the above

As a result of the above, the Company announces that it has issued 25,516,586 new ordinary shares in the share capital of the Company (the "New Shares"), to satisfy the existing shareholders of 1Spatial US Inc. and Sitemap Ltd. Application has been made to the London Stock Exchange for admission of the New Shares to trading on AIM and dealings are expected to commence on or around 14 April 2017.

Following admission of the New Shares, the Company will have a total of 763,652,144 ordinary shares in issue, including 3,196,356 ordinary shares which are held in treasury. Consequently, the total issued share capital with voting rights is 760,455,788.

Full Year Results

1Spatial will report its Full Year Results for the year ended 31 January 2017 and give a comprehensive business update to the market on 23 May 2017.

Claire Milverton, Acting CEO and CFO of 1Spatial said:

"I am pleased to announce that we have assumed full control of 1Spatial Inc., which positions us to achieve our strategic goals and drive profitable growth across the Group.

1Spatial Inc. is a key channel to market for us in the US, working alongside key customers and partners such as US Census and Esri. I am delighted that Sheila Steffenson will take the role of President at 1Spatial Inc. Under Sheila's leadership, we have a strong team in place with key expertise to drive the growth across the Americas market. The US operation has an excellent core customer base, and we are seeing lots of potential opportunities for 1Spatial solutions, in key industries such as transport, government and utilities.

With the final acquisitions of 1Spatial Inc. and Sitemap Ltd we now have full control of the strategic direction of all companies across the Group and a clear roadmap to drive profitable growth."

For further information, please contact:

 
                                 0203 427 
 1Spatial plc                     5004 
 Claire Milverton 
                                 0203 727 
 FTI Consulting                   1000 
 Dwight Burden / Alex Le May 
                                 020 7496 
 N+1 Singer                       3000 
 Shaun Dobson / Lauren Kettle 
 

About 1Spatial

1Spatial plc is a group of market leading software and solutions companies trading under the brands 1Spatial and EnablesIT

1Spatial

1Spatial manages the world's largest spatial data and works with users and creators of the largest geospatial databases, helping them collect, store, manage and interpret location-specific information.

1Spatial's clients include national mapping and cadastral agencies, utility and telecommunications companies, and government departments including emergency services, defence and census bureaus.

A leader in the field, 1Spatial has over forty years' experience and a record of continual innovation and development. Today, with an ever increasing reliance on spatial and location-critical data, demand for our expertise has never been greater.

1Spatial operates globally, and has a portfolio of customers both in the Commercial and Government sector, with headquarters in Cambridge, UK and offices in the US, France, Belgium, Ireland and Australia.

Enables IT

EnablesIT provides IT Managed Services. It offers public, private and hybrid cloud offerings with everything from Backup-as-a-Service through to managed desktops. Their end-to-end IT capability provides everything from consultancy and project management, to the installation of physical infrastructure.

Clients trust Enables IT to manage their systems and secure their data. From Healthcare to Education and from Financial Services to Legal, leading organisations rely on EnablesIT to ensure their IT is an asset, not a liability.

To find our more, visit www.1spatial.com

This information is provided by RNS

The company news service from the London Stock Exchange

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April 11, 2017 02:01 ET (06:01 GMT)