OneView Group PLC Proposed Share Consolidation (6954P)

TIDMONEV

RNS Number : 6954P

OneView Group PLC

04 September 2017

4 September 2017

OneView Group plc

("OneView" or the "Company")

Proposed Share Consolidation

OneView (AIM: ONEV), one of the retail industry's leading digital transformation software providers for in-store customer service, announces that, contained within the Notice of AGM sent to shareholders on 4 August 2017, is a resolution put to shareholders regarding a proposed consolidation of share capital (the "Share Consolidation") further detail of which is set out below.

The AGM will be held at the offices of Newgate Communications Ltd, Sky Light City Tower, 50 Basinghall Street, London, EC2V 5DE on Wednesday 6 September 2017 at 12.00 noon.

Proposed Share Consolidation

The Company's board of directors are seeking shareholder approval for the consolidation of the Company's shares on a 1 for 10 basis ("New Ordinary Shares").

As at 16 August 2017, the Company had 825,581,298 ordinary shares of 1 pence each in the Company ("Existing Ordinary Shares") in issue. The Board believes that the Share Consolidation will result in a more appropriate number of ordinary shares in issue for a company of OneView's size and may also help to make the New Ordinary Shares more attractive to investors going forward.

Following the Share Consolidation, shareholders will still hold the same proportion of the Company's ordinary share capital as before the Share Consolidation. Other than a change in nominal value, the New Ordinary Shares will carry equivalent rights under the Articles of Association to the Existing Ordinary Shares. The New Ordinary Shares will continue to trade under the same TIDM (ONEV) but will have a new ISIN: GB00BDCL4103.

Options currently in issue will also be consolidated on a 1 for 10 basis, and the exercise price adjusted accordingly.

Any fractional entitlements arising from the Share Consolidation will be aggregated and sold in the market and the net proceeds will be retained by the Company.

It is not considered that any taxation implications will exist for shareholders arising from the Share Consolidation. However, shareholders are advised to seek their own tax advice on the effect of the Share Consolidation and neither the Company, nor its advisers accept any responsibility for the individual taxation implications arising from the Share Consolidation.

The expected timetable for the Share Consolidation is set out below.

 
Notice of AGM posted to Shareholders                                                             19 July 2017 
Latest time and date for receipt of Forms of Proxy                             12.00 p.m. on 4 September 2017 
Annual general meeting                                                         12.00 p.m. on 6 September 2017 
Record date for consolidation                                                   5.00 p.m. on 6 September 2017 
Existing Ordinary Shares disabled in CREST and share register closed            5.00 p.m. on 6 September 2017 
 
Expected date on which New Ordinary Shares admitted to AIM                      8.00 a.m. on 7 September 2017 
Expected date on which CREST accounts are to be credited                                     7 September 2017 
Expected date by which definitive new share certificates are to be despatched               21 September 2016 
ISIN of New Ordinary Shares                                                                      GB00BDCL4103 
 

Admission

Application will be made for the New Ordinary Shares to be admitted to trading on AIM ("Admission"). Admission is expected on or around 7 September 2017. The Company will make a further announcement in relation to total voting rights once the final number of New Ordinary Shares is calculated and confirmed at the record date.

Further Details:

 
 OneView Group             Tel: 01634 
  plc                       673172 
 Stuart Mitchell, 
  CEO 
 Linda Palanza, 
  COO 
 Mark Wilson, Finance 
  Director 
 
 finnCap Limited           Tel: 0207 
                            220 0500 
 Geoff Nash 
 Kate Bannatyne 
 
 Turner Pope Investments   Tel: [phone] 
                            4120 
 Ben Turner 
  James Pope 
 
 Newgate Communications    Tel: [phone] 
                            9848 
 Bob Huxford 
 Lydia Thompson 
 

About OneView Commerce

OneView Commerce is a pioneer in digital store transformation, helping global retailers implement successful unified commerce strategies that centre on the critical engagement in store. The company's cloud-based Digital Store Platform combines digital-ready point of sale, line busting, and end-to-end unified commerce capabilities, with the ability to capture and deliver the rich content from these store interactions across the retail enterprise. OneView enables the exchange of this powerful store information to immediately impact sales, business operations and the customer experience. Travis Perkins plc, Wickes, and Discount Tire Corporation are among the global retailers revolutionizing their stores with OneView Commerce. For more information, visit www.oneviewcommerce.com.

This information is provided by RNS

The company news service from the London Stock Exchange

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September 04, 2017 03:00 ET (07:00 GMT)