PROACTIS Holdings PLC Completion of Acquisition and Re-admission (2190N)

TIDMPHD

RNS Number : 2190N

PROACTIS Holdings PLC

07 August 2017

PROACTIS Holdings Plc

Completion of Acquisition

Re-admission of the Enlarged Share Capital to trading on AIM

PROACTIS Holdings Plc ("PROACTIS", the "Group" or the "Company"), the specialist spend management solution provider, confirms that it has completed the acquisition of Perfect Commerce LLC ("Completion").

This follows the announcements on 7 July 2017 in relation to the Acquisition and Placing, and on 31 July 2017 in relation to the passing of the Resolutions at the General Meeting.

With Completion having occurred, the trading of the entire issued share capital of the Company (the "Issued Shares") on AIM will be cancelled (immediately prior to Re-admission) and will then be re-admitted to trading on AIM. Application has been made by the Company for the Issued Shares to be re-admitted to trading on AIM and it is expected that Re-admission will occur and dealings will commence by 8.00 a.m. today, 7 August 2017.

Following Re-admission, the total number of Shares in issue will be 92,662,789. There are no Shares held in treasury. Accordingly, the total number of voting rights in the Company on Re-admission will be 92,662,789. This figure may be used by Shareholders as the denominator for the calculations to determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

Hamp Wall, Chief Executive Officer of PROACTIS, commented:

"I am delighted that the combination of PROACTIS and Perfect Commerce is now complete. The Enlarged Group has a great opportunity to enhance its offer to its customers during what is an exciting and innovative period in the industry. I look forward to the challenge of delivering value to shareholders over the coming years."

Defined terms used in this announcement will have the meaning (unless the context otherwise requires) as set out in the Admission Document which is available on the Company's website www.proactis.co.uk. This announcement should be read in conjunction with the Admission Document published by the Company on 7 July 2017.

Enquiries:

 
 PROACTIS Holdings PLC 
 Hamp Wall, Chief Executive Officer    Via Redleaf Communications 
 Tim Sykes, Chief Financial Officer 
 Redleaf Communications 
 Elisabeth Cowell 
  Sam Modlin                           0207 382 4730 
 
 finnCap Ltd 
  Corporate Finance 
  Stuart Andrews 
  Carl Holmes 
  Emily Watts 
  Simon Hicks 
 
  Corporate Broking 
  Simon Johnson 
  Stephen Norcross 
  Alice Lane                           0207 220 0500 
 
 

Notes to Editors:

PROACTIS creates, sells and maintains specialist software which enables organisations to streamline, control and monitor all internal and external expenditure, other than payroll. PROACTIS' solutions are used in more than 1,000 organisations around the world from the commercial, public and not-for-profit sectors.

This information is provided by RNS

The company news service from the London Stock Exchange

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August 07, 2017 02:00 ET (06:00 GMT)