InterQuest Group PLC Appointment of nominated adviser and broker (2034T)

TIDMITQ

RNS Number : 2034T

InterQuest Group PLC

10 October 2017

10 October 2017

InterQuest Group PLC

("InterQuest" or the "Company")

Appointment of nominated adviser and broker

Company update

Appointment of nominated adviser and broker

Further to the announcement on 8 September 2017, the Company is pleased to announce the appointment of Allenby Capital Limited ("Allenby Capital") as its nominated adviser and Peterhouse Corporate Finance Limited as its broker.

Accordingly, suspension of trading in the Company's ordinary shares will be lifted with effect from 12.00 noon today.

Company update

As announced on 9 August 2017, Chisbridge Limited ("Chisbridge") had received acceptances of its offer in respect of 22,544,070 InterQuest shares representing 58.32 per cent of the existing issued share capital of InterQuest.

The Company also confirmed it will continue to operate its business as usual, independent of Chisbridge, and remains a public company subject to the AIM Rules for Companies. The Company, Allenby Capital and Chisbridge have entered into a relationship agreement to ensure that the Company is managed for the benefit of the shareholders independently of Chisbridge. The Company is also seeking to appoint a further non-executive director, independent of Chisbridge, to its board.

The Executive Directors, being Gary Ashworth, Chris Eldridge and David Bygrave, continue to believe that InterQuest would benefit from the cancellation of trading in its shares on AIM and re-registration as a private company and will continue to look for ways to achieve this. As highlighted above, Chisbridge have an interest in 58.32 per cent of the existing issued share capital of the Company. It should be noted that Chisbridge is free to acquire further shares in the market without incurring any obligation under Rule 9 of the Takeover Code.

Under AIM Rule 41 where an AIM company wishes to cancel admission of its securities from trading on AIM, it will require not less than 75 per cent of the votes cast by its shareholders to be in favour of approving the cancellation at a general meeting. Shareholders are reminded of the Resolutions approved at the Company's annual general meeting on 23 May 2017.

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

Enquiries:

 
 InterQuest Group plc 
 Gary Ashworth, Chairman 
  David Bygrave, Chief Financial Officer 
                                            [phone] 
  Allenby Capital Limited (Nomad)            [phone] 
 John Depasquale and Asha Chotai            [phone] 
 Peterhouse Corporate Finance (Broker) 
 Duncan Vassey and Fungai Ndoro             [phone] 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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October 10, 2017 06:32 ET (10:32 GMT)