Cancellation of Shares

 

TIDMIMJ 
 
RNS Number : 8594R 
imJack PLC 
31 August 2010 
 

                                   imJack plc 
 
                          ("imJack" or "the Company") 
 
                             Cancellation of Shares 
 
The Company announces that it has cancelled 1,500,010 ordinary 1p shares in the 
Company ("Ordinary Shares"). These shares were issued as part of the 
consideration for the acquisition of The Day Ltd which was announced by the 
Company on 19 May 2009. Due to the terms and conditions of the purchase not 
being completely satisfied these shares have been forfeited and accordingly the 
shares were transferred back into the Company's name for nil consideration and 
have been cancelled ("Cancellation"). The total number of Ordinary Shares in 
issue following Cancellation is 301,704,454. 
 
Furthermore it has come to the Company's attention that an error was made in the 
calculation of certain shareholdings included in the announcement made by the 
Company on 20 May 2010 (the "Announcement") and the accompanying shareholder 
circular published on the same date. The Announcement contained details of new 
Ordinary Shares of the Company (the "New Ordinary Shares") to be issued in 
respect of, inter alia, a placing, the capitalisation of directors loans and 
certain acquisitions. The Announcement stated that Jeffrey Morris's beneficial 
shareholding, including the holdings of Jeffrey Morris' wife Debra Morris, 
following the issue of the New Ordinary Shares was 79,182,525 representing 
approximately 26.12 per cent of the enlarged share capital. However, this 
beneficial holding was over-stated by 2,210,335 Ordinary Shares representing 
0.7% of the share capital following Cancellation. 
 
This misstatement was due to Jeffrey Morris's holding being overstated by 
5,016,700 Ordinary Shares which were announced by the Company as having been 
disposed of by Jeffrey Morris on 3 December 2009 (the "Disposals"), but the 
Disposals had not settled and accordingly were not reflected on the share 
register on the date of the Announcement. In addition, the shareholding 
attributed to Debra Morris was understated in the Announcement by 2,806,365 
Ordinary Shares due to shares held in a nominee account not having been 
identified on the share register as attributable to Debra Morris. 
 
Jeffrey Morris has used reasonable endeavours to try to ensure that all shares 
disposed of as part of the Disposals (the "Disposal Shares") are reflected on 
the share register as at today's date, however the responsibility to re-register 
the Disposal Shares in the name of the new owners ("New Owners") of the Disposal 
Shares lies with the New Owners. Some of the New Owners have still yet to 
complete the share transfer procedures therefore the Company's share register 
does not yet reflect Jeffrey Morris' correct shareholding. 
 
Jeffrey Morris's restated beneficial interest in the Ordinary Shares is 
76,972,160 Ordinary Shares (including 34,806,225 Shares held by Debra Morris) 
which represents 25.5 per cent of the issued share capital following the 
Cancellation. 
 
For further information, please contact: 
 
imJack Plc                                                        Tel: [phone] 
016 
Michael Abrahams, Chairman 
 
Daniel Stewart & Company plc                          Tel: [phone] 
Emma Earl / Paul Shackleton 
 
Rawlings Financial PR Limited                           Tel: [phone] 
Catriona Valentine 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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