Schedule 1 - Inflexion plc

RNS Number:4130U
AIM
20 January 2004


             ANNOUNCEMENT TO BE MADE BY THE AIM APPLICANT PRIOR TO ADMISSION IN ACCORDANCE WITH AIM RULE 2

ALL APPLICANTS MUST COMPLETE THE FOLLOWING:

COMPANY NAME:
Inflexion plc


COMPANY ADDRESS:
40 George Street, London


COMPANY POSTCODE:
W1U 7DW


COUNTRY OF INCORPORATION:
England & Wales


COMPANY BUSINESS:
Inflexion is an AIM traded investment company with a primary strategy of committing its capital alongside other
institutional investors into private equity funds managed by the Company's investment manager. These funds have a focus
on the acquisition of, or investment into, mid sized unquoted companies.



A document has been posted to shareholders which, subject to shareholder approval, will result in a significant
increase in the Company's net asset value from approximately #13.4 million to approximately #45.8 million through the
acquisition of an investment portfolio from London Merchant Securities plc ("LMS") together with a fund raising.  The
proposed acquisition from LMS is of a structured portfolio of minority interests in companies listed on the Official
List or traded on AIM together with certain gilts for an aggregate consideration of #12 million to be satisfied by the
issue of ordinary shares.  There will subsequently be a minimum #21 million fund raising including an open offer of up
to #10 million, of which #6 million will be subscribed by LMS and a deferred cash raising of which LMS is committed to
a further #15 million.


DETAILS OF SECURITIES TO BE ADMITTED (i.e. where known, number of shares, nominal value and issue price to which it
seeks admission and the number and type to be held as treasury shares):
132,036,667 Ordinary Shares of 1 pence each


CAPITAL TO BE RAISED ON ADMISSION:
#nil


FULL NAMES AND FUNCTIONS OF DIRECTORS AND PROPOSED DIRECTORS:
Directors

Andrew Martin Shaw (Independent Non-executive Chairman)

John Frederik Hartz (Joint Chief Executive Officer)

Simon Eric Hugh Turner (Joint Chief Executive Officer)

Andrew Rae Burns (Independent Non-executive Director)



Proposed Directors

Robert Anthony Rayne (Non-executive director)

Martin Andrew Pexton (Non-executive director)


PERSON(S) INTERESTED IN 3% OR MORE OF THE ISSUER'S CAPITAL, EXPRESSED AS A PERCENTAGE OF THE ISSUED SHARE CAPITAL
STATING WHETHER BEFORE OR AFTER ADMISSION:
Shareholder             Current number of        Percentage of   Number of ordinary  Percentage of issued
                          ordinary shares current issued share  shares on admission      share capital on
                                                   capital (%)                              admission (%)
London Merchant                         -                    -           66,666,667                  50.5
Securities plc
John Hartz                      8,439,800                 12.9            8,439,800                   6.4
Simon Turner                    8,297,600                 12.7            8,297,600                   6.3
Shore Capital                   8,266,736                 12.7            8,266,736                   6.3
Luke Johnson                    5,150,000                  7.9            5,150,000                   3.9
Inflexion Employee              4,436,640                  6.8            4,436,640                   3.4
Benefit Trust
Banc Boston Capital             4,000,000                  6.1            4,000,000                   3.0
Deutsche Bank                   3,813,396                  5.8            3,813,396                   2.9
Newton Investment               3,444,000                  5.3            3,444,000                   2.6
Management
Commerzbank                     3,125,000                  4.8            3,125,000                   2.4



NAMES AND ADDRESSES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE 2, PARAGRAPH (G) OF THE AIM RULES:
None


ANTICIPATED ACCOUNTING REFERENCE DATE:
31 March


EXPECTED ADMISSION DATE:
6 February 2004


NAME AND ADDRESS OF NOMINATED ADVISER:
Grant Thornton Corporate Finance

Grant Thornton House

Melton Street

Euston Square

London NW1 2EP


NAME AND ADDRESS OF BROKER:
Current broker

Citigroup

33 Canada Square

London E14 5LB



Proposed broker on completion of acquisition

Cazenove & Co. Limited

20 Moorgate

London EC2R 6DA


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:


Grant Thornton, Melton Street, Euston Square, London NW1 2EP and



Ashurst, Broadwalk House, 5 Appold Street, London EC2A 2HA


DATE OF NOTIFICATION:
20 January 2004


NEW/ UPDATE:
New



                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

PAAEAPFEAAALEEE