Xpediator PLC Issue of Equity (8416Q)

TIDMXPD

RNS Number : 8416Q

Xpediator PLC

08 June 2018

The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

8 June 2018

Xpediator Plc

("Xpediator" or the "Group")

Issue of Equity

Xpediator, (AIM: XPD) a leading provider of freight management services across the UK and Europe, announces that pursuant to the acquisition of Easy Managed Transport Limited ("EMT"), as described in the Group's admission document dated 8 August 2017, a deferred consideration payment of GBP1,074,626 million, based on the results of EMT for the twelve month period to 28 February 2018, has become payable to the vendors of EMT, Michael Mehmet and his wife, Paula Mehmet. The deferred consideration payment will be settled by the issue of 1,313,047 new ordinary shares in the Group to Michael Mehmet and the issue of 414,647 new ordinary shares in the Group to Paula Mehmet (the "Deferred Consideration Shares").

Details of the Deferred Consideration Shares

Application has been made for the Deferred Consideration Shares, which will rank pari passu with the existing ordinary shares of 5 pence each in the Group ("Ordinary Shares"), to be admitted to trading on the AIM market of the London Stock Exchange ("Admission"). It is expected that Admission will occur at 8.00am on or around 13 June 2018.

Michael and Paula Mehmet have agreed not to dispose of the Deferred Consideration Shares for a period of twelve months from the date of issue without the prior consent of the Company's nominated adviser and joint broker, SP Angel Corporate Finance LLP, and the Company's joint broker, Cantor Fitzgerald Europe.

Total Voting Rights

Following Admission, the Group's issued ordinary share capital will comprise 119,158,838 Ordinary Shares and may be used by shareholders in the Group as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Group under the FCA's Disclosure and Transparency Rules.

 
 Xpediator plc                            Tel: +44 (0)330 
                                           043 2395 
 Stephen Blyth, Chief Executive           Email: [e-mail] 
  Officer 
 Richard Myson, Chief Financial 
  Officer 
 
 SP Angel Corporate Finance LLP           Tel: +44 (0)20 
  (Nominated Advisor & Joint Broker)       3470 0470 
 Jeff Keating 
 Caroline Rowe 
 
 Cantor Fitzgerald Europe (Joint          Tel: +44 (0)20 
  Broker)                                  7894 7000 
 David Foreman, Michael Boot (Corporate 
  Finance) 
 Caspar Shand Kydd, Alex Pollen 
  (Sales) 
 
 Novella Communications (Financial        Tel: +44 (0)20 
  Public Relations)                        3151 7008 
 Tim Robertson 
 Toby Andrews 
 

About Xpediator:

Xpediator is a well-established international provider of freight management services. Established in 1988 by CEO Stephen Blyth, the Group's international network of offices provides road, sea and air freight services, together with logistics and warehousing in the UK and Romania. The business offers integrated freight management within the supply chain logistics and fulfilment sector, through its three main areas: freight forwarding, logistics & warehousing and transport services. With headquarters in Braintree, Essex and country offices in nine CEE countries across 31 sites, the Group currently employs 781 people and was successfully admitted to London's AIM market in August 2017.

For more information, please visit: www.xpediator.com

Do follow us on Twitter at @Xpediator, or on LinkedIn at Xpediator Plc, or alternatively find us on VoxMarkets using the ticker "XPD".

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM:

 
 1.   Details of the person discharging managerial 
       responsibilities/person closely associated 
---  -------------------------------------------------------------------------- 
 a)   Name:                             1. Michael Mehmet 
                                         2. Paula Mehmet 
---  --------------------------------  ---------------------------------------- 
 2.   Reason for the notification 
---  -------------------------------------------------------------------------- 
 a)   Position/status:                  1. Founder of EMT and 
                                         Xpediator operating 
                                         board member 
                                         2. Wife of Michael 
                                         Mehmet 
---  --------------------------------  ---------------------------------------- 
 b)   Initial notification/Amendment:   Initial notification 
---  --------------------------------  ---------------------------------------- 
 3.   Details of the issuer, emission allowance 
       market participant, auction platform, auctioneer 
       or auction monitor 
---  -------------------------------------------------------------------------- 
 a)   Name:                             Xpediator plc 
---  --------------------------------  ---------------------------------------- 
 b)   LEI:                              213800XBOVDBT2HEC967 
---  --------------------------------  ---------------------------------------- 
 4.   Details of the transaction(s): section to 
       be repeated for (i) each type of instrument; 
       (ii) each type of transaction; (iii) each 
       date; and (iv) each place where transactions 
       have been conducted 
---  -------------------------------------------------------------------------- 
 a)   Description of the financial      Ordinary shares of 
       instrument, type of               5 pence each 
       instrument: 
 
       Identification code:              ISIN: GB00BF6P5V92 
---  --------------------------------  ---------------------------------------- 
 b)   Nature of the transaction:        Issue of deferred consideration 
                                         shares 
---  --------------------------------  ---------------------------------------- 
 c)   Price(s) and volume(s):             Price(s)        Volume(s) 
                                          --------------  ------------------ 
                                                1. 62.2         1. 1,313,047 
                                                 pence 
                                                 2. 62.2         2. 414,647 
                                                  pence 
                                          --------------  ------------------ 
---  --------------------------------  ---------------------------------------- 
 d)   Aggregated information:           Single transaction 
       Aggregated volume:                as in 4 c) above Price(s)    Volume(s) 
       Price:                            ----------  ---------- 
                                          62.2 
                                           pence      1,727,694 
---  --------------------------------  ---------------------------------------- 
 e)   Date of the transaction:          8 June 2018 
---  --------------------------------  ---------------------------------------- 
 f)   Place of the transaction:         Off-market 
---  --------------------------------  ---------------------------------------- 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

END

IOEUGUGUQUPRGAR

(END) Dow Jones Newswires

June 08, 2018 11:15 ET (15:15 GMT)