Fusionex International PLC Establishment of Employee Benefit Trust (6071S)

TIDMFXI

RNS Number : 6071S

Fusionex International PLC

22 December 2016

 
 For Immediate Release   22 December 2016 
 

Fusionex International PLC

("Fusionex" or "the Company")

Establishment of Employee Benefit Trust

Fusionex, a multi-award winning international software solutions provider specialising in Big Data Analytics, Artificial Intelligence and the Internet of Things ("IoT"), announces that an employee benefit trust, the Fusionex Employee Benefit Trust ("EBT"), has been set up to incentivise employees of the Company and its subsidiaries through the award of a specified number of ordinary shares in the capital of the Company ("Awards").

The Awards shall not be granted to contractors or the directors of the Company, and shall be subject to vesting and performance conditions.

It is proposed that the EBT will subscribe for 7,095,000 new ordinary shares in the capital of the Company ("New Ordinary Shares").

Application will be made for the New Ordinary Shares to be admitted to trading on AIM, and it is anticipated that admission will become effective on or around 30 December 2016. Following admission, the Company's issued share capital will consist of 54,395,000 ordinary shares. There are no shares in the capital of the Company held as treasury shares.

The above figure 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:

 
 Fusionex                                     Through Buchanan 
  Ivan Teh, Chief Executive Officer 
  Yuen Choong Lai, Chief Financial 
  Officer 
  Darren Hopkins, Director of Investor 
  Relations & Corporate Development 
 Panmure Gordon (Nominated Adviser 
  and Joint Broker) 
  Andrew Godber, Alina Vaskina (Investment 
  Banking) 
  Charles Leigh-Pemberton (Corporate                  0207 886 
  Broking)                                                2500 
 
   Peel Hunt LLP (Joint Broker)                       0207 418 
   Richard Kauffer, Euan Brown                            8900 
 
   Buchanan 
   Sophie McNulty, Stephanie Watson,                  0207 466 
   Patrick Hanrahan                                       5000 
 

Market abuse regulation

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014.

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCBGBDDUXDBGLD

(END) Dow Jones Newswires

December 22, 2016 05:45 ET (10:45 GMT)