AIM Schedule One update - Totally plc (2095U)

TIDMTLY

RNS Number : 2095U

AIM

20 October 2017

 
             ANNOUNCEMENT TO BE MADE BY THE AIM APPLICANT 
              PRIOR TO ADMISSION IN ACCORDANCE WITH RULE 2 
              OF THE AIM RULES FOR COMPANIES ("AIM RULES") 
---------------------------------------------------------------------- 
 
 COMPANY NAME: 
---------------------------------------------------------------------- 
 Totally plc 
---------------------------------------------------------------------- 
 COMPANY REGISTERED OFFICE ADDRESS AND IF DIFFERENT, 
  COMPANY TRADING ADDRESS (INCLUDING POSTCODES): 
---------------------------------------------------------------------- 
 
   Hamilton House 
   Mabledon Place 
   London 
   WC1H 9BB 
   United Kingdom 
---------------------------------------------------------------------- 
 COUNTRY OF INCORPORATION: 
---------------------------------------------------------------------- 
 
   England and Wales 
---------------------------------------------------------------------- 
 COMPANY WEBSITE ADDRESS CONTAINING ALL INFORMATION 
  REQUIRED BY AIM RULE 26: 
---------------------------------------------------------------------- 
 
   http://www.totallyplc.com 
---------------------------------------------------------------------- 
 COMPANY BUSINESS (INCLUDING MAIN COUNTRY OF 
  OPERATION) OR, IN THE CASE OF AN INVESTING COMPANY, 
  DETAILS OF ITS INVESTING POLICY). IF THE ADMISSION 
  IS SOUGHT AS A RESULT OF A REVERSE TAKE-OVER 
  UNDER RULE 14, THIS SHOULD BE STATED: 
---------------------------------------------------------------------- 
 
        Totally plc ("Totally" or the "Company") is 
        a provider of a range of out-of-hospital services 
        to the healthcare sector in the UK, both to 
        the NHS and the private sector, to help patients 
        access healthcare services quickly, to understand 
        healthcare options better to promote self-care 
        and to support the NHS to manage demand across 
        its services and to promote NHS policy of working 
        in partnership to deliver integrated services 
        aimed at keeping people out of hospital. The 
        Company achieves this principally through its 
        four existing business divisions and has a stated 
        'buy and build' strategy in the UK out-of-hospital 
        healthcare sector. The Company's main country 
        of operation is the UK. 
 
        The Company has conditionally agreed to acquire 
        the entire issued share capital of Vocare Limited 
        ("Vocare") for a maximum consideration of GBP11 
        million on a cash free and debt free basis (the 
        "Acquisition"). The total consideration is being 
        satisfied through: 
 
        (i) the payment of GBP6.5 million in cash on 
        completion of the Acquisition, funded from the 
        Company's existing cash resources; 
        (ii) the issue of 7,306,889 new ordinary shares 
        at 47.9 pence per share to the vendors of Vocare 
        ("Share Consideration"); and 
        (iii) deferred cash consideration of up to GBP1.0 
        million may be payable subject to the achievement 
        of an earn out based on the EBITDA of Vocare 
        for the year ended 31 March 2018. 
 
        Vocare is incorporated and registered in England 
        and Wales and is a provider of integrated urgent 
        care services to the NHS throughout the UK. 
        The services provided by Vocare include urgent 
        care centres, GP out-of-hours services, the 
        NHS 111 service and integrated urgent care services. 
        Other services provided include emergency dental 
        and pharmacy services. Vocare's main country 
        of operation is the UK. 
 
        Pursuant to Rule 14 of the AIM Rules for Companies, 
        the Acquisition constitutes a reverse takeover. 
        Shareholder approval for the Acquisition is 
        being sought at a general meeting convened for 
        23 October 2017. 
---------------------------------------------------------------------- 
 DETAILS OF SECURITIES TO BE ADMITTED INCLUDING 
  ANY RESTRICTIONS AS TO TRANSFER OF THE SECURITIES 
  (i.e. where known, number and type of shares, 
  nominal value and issue price to which it seeks 
  admission and the number and type to be held 
  as treasury shares): 
---------------------------------------------------------------------- 
 
   59,795,172 ordinary shares of 10p each ("Ordinary 
   Shares") including 7,306,889 Ordinary Shares 
   to be issued at 47.9p per share on admission 
   to AIM pursuant to the Share Consideration. 
 
   No shares are held in treasury. 
---------------------------------------------------------------------- 
 CAPITAL TO BE RAISED ON ADMISSION (IF APPLICABLE) 
  AND ANTICIPATED MARKET CAPITALISATION ON ADMISSION: 
---------------------------------------------------------------------- 
 
   Capital to be raised on Admission: N/A 
 
   Anticipated market capitalisation on Admission: 
   GBP28.70 million (based on the closing mid-market 
   share price on 21 July 2017) 
---------------------------------------------------------------------- 
 PERCENTAGE OF AIM SECURITIES NOT IN PUBLIC HANDS 
  AT ADMISSION: 
---------------------------------------------------------------------- 
 
   15.11 per cent 
---------------------------------------------------------------------- 
 DETAILS OF ANY OTHER EXCHANGE OR TRADING PLATFORM 
  TO WHICH THE AIM COMPANY HAS APPLIED OR AGREED 
  TO HAVE ANY OF ITS SECURITIES (INCLUDING ITS 
  AIM SECURITIES) ADMITTED OR TRADED: 
---------------------------------------------------------------------- 
 
   None 
---------------------------------------------------------------------- 
 FULL NAMES AND FUNCTIONS OF DIRECTORS AND PROPOSED 
  DIRECTORS (underlining the first name by which 
  each is known or including any other name by 
  which each is known): 
---------------------------------------------------------------------- 
 
   Directors: 
    Robert (Bob) Holt      Chairman 
     OBE 
    Wendy Jayne Lawrence   Chief Executive Officer 
    Donald (Don) Ahelan    Finance Director and 
     Baladasan              Proposed Non-Executive 
                            Director 
    Anthony (Tony) Rhys    Non-Executive Director 
     Bourne 
    Michael (Mike) Greig   Non-Executive Director 
     Rogers 
 
 
   Proposed Director: 
    Lisa Barter-Ng   Proposed Finance Director 
---------------------------------------------------------------------- 
 FULL NAMES AND HOLDINGS OF SIGNIFICANT SHAREHOLDERS 
  EXPRESSED AS A PERCENTAGE OF THE ISSUED SHARE 
  CAPITAL, BEFORE AND AFTER ADMISSION (underlining 
  the first name by which each is known or including 
  any other name by which each is known): 
---------------------------------------------------------------------- 
                               Before Admission     After Admission 
   --------------------------  -------------------  ------------------ 
    Shareholder                 Ordinary     %       Ordinary     % 
                                 Shares               Shares 
   --------------------------  -----------  ------  -----------  ----- 
    Unicorn Asset Management 
     Limited                    5,759,291    10.97   5,759,291    9.63 
   --------------------------  -----------  ------  -----------  ----- 
    Lombard Odier Asset 
     Management (Europe) 
     Limited                    5,450,000    10.38   5,450,000    9.11 
   --------------------------  -----------  ------  -----------  ----- 
    Miton Asset Management 
     Limited                    5,311,546    10.12   5,311,546    8.88 
   --------------------------  -----------  ------  -----------  ----- 
    Legal & General Group 
     plc                        4,900,000    9.34    4,900,000    8.19 
   --------------------------  -----------  ------  -----------  ----- 
    Seneca Partners Limited     3,370,545    6.42    3,370,545    5.64 
   --------------------------  -----------  ------  -----------  ----- 
    Killik & Co LLP             3,222,727    6.14    3,139,702    5.25 
   --------------------------  -----------  ------  -----------  ----- 
    Threadneedle Asset 
     Management Limited         2,820,000    5.37    2,820,000    4.72 
   --------------------------  -----------  ------  -----------  ----- 
    Royal London Asset 
     Management Limited         2,800,000    5.33    2,800,000    4.68 
   --------------------------  -----------  ------  -----------  ----- 
    Schroder Investment 
     Management Limited         2,214,545    4.22    2,214,545    3.70 
   --------------------------  -----------  ------  -----------  ----- 
    Canaccord Genuity 
     Group Inc                  2,155,653    4.11    2,155,653    3.61 
   --------------------------  -----------  ------  -----------  ----- 
    John Joseph Harrison        -            -       2,868,977    4.80 
   --------------------------  -----------  ------  -----------  ----- 
    Michael Stephen Harrison    -            -       2,868,977    4.80 
   --------------------------  -----------  ------  -----------  ----- 
---------------------------------------------------------------------- 
 NAMES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE 
  WITH SCHEDULE 2, PARAGRAPH (H) OF THE AIM RULES: 
---------------------------------------------------------------------- 
 None 
---------------------------------------------------------------------- 
 (i) ANTICIPATED ACCOUNTING REFERENCE DATE 
  (ii) DATE TO WHICH THE MAIN FINANCIAL INFORMATION 
  IN THE ADMISSION DOCUMENT HAS BEEN PREPARED 
  (this may be represented by unaudited interim 
  financial information) 
  (iii) DATES BY WHICH IT MUST PUBLISH ITS FIRST 
  THREE REPORTS PURSUANT TO AIM RULES 18 AND 19: 
---------------------------------------------------------------------- 
 
              (i) 31 March 
 
              (ii) With respect to Totally, 30 June 2017 (unaudited 
              interim financial information) 
 
              With respect to Vocare, 31 March 2017 (audited 
              full year financial information) 
 
              (iii) 31 March 2018 (unaudited interim report 

              for the six months ended 31 December 2017) 
 
              30 September 2018 (annual report for the 15 
              month period ended 31 March 2018) 
 
              31 December 2018 (unaudited interim report 
              for the six months ended 30 
              September 2018) 
---------------------------------------------------------------------- 
 EXPECTED ADMISSION DATE: 
---------------------------------------------------------------------- 
 
   24 October 2017 
---------------------------------------------------------------------- 
 NAME AND ADDRESS OF NOMINATED ADVISER: 
---------------------------------------------------------------------- 
  Allenby Capital Limited 
   5 St. Helen's Place 
   London 
   EC3A 6AB 
   United Kingdom 
---------------------------------------------------------------------- 
 NAME AND ADDRESS OF BROKER: 
---------------------------------------------------------------------- 
 
   Allenby Capital Limited 
   5 St. Helen's Place 
   London 
   EC3A 6AB 
   United Kingdom 
 
   Cenkos Securities plc 
   6-8 Tokenhouse Yard 
   London 
   EC2R 7AS 
   United Kingdom 
---------------------------------------------------------------------- 
 OTHER THAN IN THE CASE OF A QUOTED APPLICANT, 
  DETAILS OF WHERE (POSTAL OR INTERNET ADDRESS) 
  THE ADMISSION DOCUMENT WILL BE AVAILABLE FROM, 
  WITH A STATEMENT THAT THIS WILL CONTAIN FULL 
  DETAILS ABOUT THE APPLICANT AND THE ADMISSION 
  OF ITS SECURITIES: 
---------------------------------------------------------------------- 
 
   Copies of the admission document, which will 
   contain full details about the Company and the 
   admission of its securities, will be available 
   from the registered office of the Company and 
   at the offices of Allenby Capital Limited, 5 
   St. Helen's Place, London EC3A 6AB during normal 
   business hours on any weekday (Saturdays, Sundays 
   and public holidays excepted) for a period of 
   one month from the date of admission. 
 
   The admission document will also be available 
   to download from the Company's website www.totallyplc.com 
---------------------------------------------------------------------- 
 DATE OF NOTIFICATION: 
---------------------------------------------------------------------- 
 
   20 October 2017 
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 NEW/ UPDATE: 
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   UPDATE 
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This information is provided by RNS

The company news service from the London Stock Exchange

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October 20, 2017 06:30 ET (10:30 GMT)