REG - Character Group PLC - Payment of earnout consideration and TVR

CharacterAnnouncement

02/07/2019 16:30

RNS Number : 2600E
Character Group PLC
02 July 2019
 


 
2 July 2019
 
 
The Character Group plc
("Character Group" or the "Company")
 
Proxy - payment of earnout consideration
and
Total Voting Rights
 
 
Character Group (AIM: CCT) announces that, in accordance with the terms of the Share Purchase Agreement dated 17 October 2018 relating to the purchase by its subsidiary Character Nordic Limited of an initial 55% interest in OVG-Proxy A/S, EBIT-based earn-out consideration has become payable to Kidz A/S and Wamami Holding APS (companies owned respectively by Proxy's CEO, Morten Geschwendtner and Proxy's CFO, Mikkel Kjærsgaard) (together the "Sellers") in respect of the year ended 31 December 2018.
The consideration has been satisfied by:



-


the transfer from treasury to the Sellers of 150,000 ordinary shares of 5 pence each in Character Group ("Ordinary Shares"); and




-


the payment in cash to the Sellers of approximately £438,000 (c. 3.9 million Danish Krone).



In accordance with Rule 17 and Schedule 7 of the AIM Rules for Companies, the Company provides the following details of the consequential movement of shares out of treasury:



-


Date of movement of shares out of treasury: 28 June 2019 and 2 July 2019;




-


Number and class of shares transferred out of treasury: 150,000 Ordinary Shares;




-


Number and class of shares remaining in treasury following such transfer: 2,283,256 Ordinary Shares; and




-


Number and class of shares in issue less those held in treasury following such transfer: 21,375,995.



 
Total Voting Rights (TVR)
The above figure of 21,375,995 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest, or a change to their interest, in the Company under the Disclosure Guidance and Transparency Rules
 
 
Enquiries:
The Character Group plc 
Kiran Shah, Joint MD
Tel: +44 (0)208 329 3377
 
Panmure Gordon, Nominated Adviser and Joint Broker
Atholl Tweedie, Investment Banking
Charles Leigh-Pemberton, Corporate Broking
Tel: +44 (0)20 7886 2500
 
Allenby Capital Limited, Joint Broker
Nick Athanas
Tel: +44 (0)20 3328 5656
 
Tooley Street Communications, IR & Media Relations
Fiona Tooley
Tel: +44 (0)7785 703 523




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 rns@lseg.com or visit www.rns.com.
 
END
 
 
MSCEASXAEAFNEFF