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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Altitude Group Plc | LSE:ALT | London | Ordinary Share | GB00B0LSFV82 | ORD 0.4P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| -0.50 | -1.27% | 39.00 | 38.00 | 40.00 | 39.50 | 39.00 | 39.50 | 262,401 | 14:00:26 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Advertising, Nec | 18.76M | 390k | 0.0055 | 70.91 | 27.74M |
From May 2019 to May 2024
TIDMALT
RNS Number : 4365F
Altitude Group PLC
17 May 2017
Altitude Group plc
("Altitude" or "the Company")
GBP3.7m placing of 6,191,669 new and existing Ordinary Shares
Director Dealing
Acquisition
Exercise of Options
Altitude Group plc (AIM: ALT), the operator of a leading digital marketplace for personalised products, is pleased to announce that, finnCap, as the Company's broker, have conducted a placing of 2,025,002 existing ordinary shares of 0.4 pence each in the Company and 4,166,667 new ordinary shares of 0.4 pence (together the "Placing Shares") with new and existing institutional and other investors (the "Placing").
The Placing Shares were sold at a price of 60 pence per share ("Placing Price") and represent, in aggregate, approximately 13.4 per cent. of the currently issued share capital of the Company. The new ordinary shares being issued in relation to the Placing represent approximately 9.0 per cent. of the currently issued share capital of the Company.
Following the sell down of 2,025,002 ordinary shares of 0.4 pence each ("Ordinary Shares"), Keith Willis now holds 7,171,273 Ordinary Shares, representing 14.1 per cent. of the enlarged issued share capital of the Company. These shares are subject to a 12 month lock-in.
Directors' Participation and Related Party Transaction
Certain Directors have subscribed for Placing Shares in the Placing at the Placing Price as per the table below (the "Directors' Participation"):
Hot Features
Premium
Directors Placing Shares Resultant shareholding
acquired
--------------- ----------------- --------------------------
Number of Number of % of Enlarged
Ordinary Shares Ordinary Issued Share
Shares Capital
--------------- ----------------- ---------- --------------
Peter Hallett 16,667 211,337 0.4%
--------------- ----------------- ---------- --------------
Sanjay Lobo 33,333 33,333 0.07%
--------------- ----------------- ---------- --------------
Gellan Watt 16,667 16,667 0.03%
--------------- ----------------- ---------- --------------
The participation of the Directors in the Placing constitutes a related party transaction for the purposes of AIM Rule 13.
Martin Varley and Shaun Parker, the Company's President and Chief Operating Officer respectively, are considered to be independent directors for purposes of AIM Rule 13 ("Independent Directors"). As such, the Independent Directors, having consulted with the Company's nominated adviser, consider the Directors' Participation to be fair and reasonable insofar as the Company's shareholders are concerned.
Use of Proceeds
The net proceeds will be used to ensure the Company has flexibility in funding to significantly increase the number of US Channl.com web sites created for distributors and end users, gain traction in terms of their activation and engagement and support the UK launch of Channl.com through the acquisition of certain assets of AdProducts.com Limited, a small UK based supplier of promotional products, for cash consideration of approximately GBP0.8 million (subject to a stock valuation adjustment). A further announcement will be made in due course when the acquisition has completed.
Exercise of Options
The Company further announces that on 17 May 2017, 300,000 Ordinary Shares were issued and allotted pursuant to the exercise of share options.
Application has been made for 4,466,667 new Ordinary Shares to be admitted to trading on AIM ("Admission") and dealings are expected to commence on 23 May 2017. The new Ordinary Shares will rank pari passu with the Company's existing Ordinary Shares.
The total number of Ordinary Shares in issue following Admission will be 50,845,192. Accordingly, the figure of 50,845,192 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 Guidance and Transparency Rules.
Peter Hallett, Executive Chairman of Altitude, commented:
"We are delighted with the support from both new and existing investors in the Company. The funds raised will enable us to accelerate the rollout of Channl.com in the US and UK and we look forward to updating the market over the coming year."
The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014.
For further information please contact:
Altitude Group plc Peter Hallett, Chairman 07887 987469 finnCap Tel: 020 7220 0500 Jonny Franklin-Adams (Corporate Finance) Scott Mathieson (Corporate Finance) Richard Chambers (Corporate Broking)
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
1. Details of the person discharging managerial
responsibilities / person closely associated
--- ------------------------------------------------------------------
a) Name Sanjay Lobo
--- ------------------------------- ---------------------------------
2. Reason for the Notification
--- ------------------------------------------------------------------
a) Position/status PDMR: Managing Director
--- ------------------------------- ---------------------------------
b) Initial notification/Amendment Initial notification
--- ------------------------------- ---------------------------------
3. Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
--- ------------------------------------------------------------------
a) Name Altitude Group plc
--- ------------------------------- ---------------------------------
b) LEI n/a
--- ------------------------------- ---------------------------------
4. Details of the transaction(s): section to
be repeated for (i) each type of instrument;
(ii) each type of transaction; (iii) each
date; and (iv) each place where transactions
have been conducted
--- ------------------------------------------------------------------
a) Description of Ordinary shares
the Financial of 0.4p
instrument, type
of instrument
---
Identification GB00B0LSFV82
code
--- ------------------------------- ---------------------------------
b) Nature of the Purchase of ordinary shares
transaction
--- ------------------------------- ---------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) --------- ----------
60p 33,333
--------- ----------
--- ------------------------------- ---------------------------------
d) Aggregated information:
* Aggregated volume Purchase of 33,333 ordinary
shares of 0.4 pence at GBP0.60
per ordinary share
* Price
--- ------------------------------- ---------------------------------
e) Date of the transaction 17 May 2017
--- ------------------------------- ---------------------------------
f) Place of the London Stock Exchange, AIM
transaction Market (XLON)
--- ------------------------------- ---------------------------------
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
5. Details of the person discharging managerial
responsibilities / person closely associated
--- -------------------------------------------------------------------
a) Name Peter Hallett
--- ------------------------------- ----------------------------------
6. Reason for the Notification
--- -------------------------------------------------------------------
a) Position/status PDMR: Executive Chairman
--- ------------------------------- ----------------------------------
b) Initial notification/Amendment Initial notification
--- ------------------------------- ----------------------------------
7. Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
--- -------------------------------------------------------------------
a) Name Altitude Group plc
--- ------------------------------- ----------------------------------
b) LEI n/a
--- ------------------------------- ----------------------------------
8. Details of the transaction(s): section to
be repeated for (i) each type of instrument;
(ii) each type of transaction; (iii) each
date; and (iv) each place where transactions
have been conducted
--- -------------------------------------------------------------------
a) Description of Ordinary shares
the Financial of 0.4p
instrument, type
of instrument
---
Identification GB00B0LSFV82
code
--- ------------------------------- ----------------------------------
b) Nature of the Purchase of ordinary shares
transaction
--- ------------------------------- ----------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) --------- ----------
60p 16,667
--------- ----------
--- ------------------------------- ----------------------------------
d) Aggregated information:
* Aggregated volume Purchase of 16,667 ordinary
shares of 0.4 pence at GBP0.60p
per ordinary share
* Price
--- ------------------------------- ----------------------------------
e) Date of the transaction 17 May 2017
--- ------------------------------- ----------------------------------
f) Place of the London Stock Exchange, AIM
transaction Market (XLON)
--- ------------------------------- ----------------------------------
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
9. Details of the person discharging managerial
responsibilities / person closely associated
---- ------------------------------------------------------------------
a) Name Gellan Watt
---- ------------------------------- ---------------------------------
10. Reason for the Notification
---- ------------------------------------------------------------------
a) Position/status PDMR: Non-Executive Director
---- ------------------------------- ---------------------------------
b) Initial notification/Amendment Initial notification
---- ------------------------------- ---------------------------------
11. Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
---- ------------------------------------------------------------------
a) Name Altitude Group plc
---- ------------------------------- ---------------------------------
b) LEI n/a
---- ------------------------------- ---------------------------------
12. Details of the transaction(s): section to
be repeated for (i) each type of instrument;
(ii) each type of transaction; (iii) each
date; and (iv) each place where transactions
have been conducted
---- ------------------------------------------------------------------
a) Description of Ordinary shares
the Financial of 0.4p
instrument, type
of instrument
----
Identification GB00B0LSFV82
code
---- ------------------------------- ---------------------------------
b) Nature of the Purchase of ordinary shares
transaction
---- ------------------------------- ---------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) --------- ----------
60p 16,667
--------- ----------
---- ------------------------------- ---------------------------------
d) Aggregated information:
* Aggregated volume Purchase of 16,667 ordinary
shares of 0.4 pence at GBP0.60
per ordinary share
* Price
---- ------------------------------- ---------------------------------
e) Date of the transaction 17 May 2017
---- ------------------------------- ---------------------------------
f) Place of the London Stock Exchange, AIM
transaction Market (XLON)
---- ------------------------------- ---------------------------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
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(END) Dow Jones Newswires
May 17, 2017 07:03 ET (11:03 GMT)
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