REG - Gamma Communications - Issue of Equity

Gamma CommunicationsAnnouncement

08/07/2022 16:45

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RNS Number : 9060R  Gamma Communications PLC  08 July 2022

8 July 2022

Gamma Communications plc

(the "Company" or "Gamma")

Issue of equity in connection with options in respect of historical
acquisition

Payments made in respect of historical acquisition

Further to announcements dated 2 July 2020 and 28 May 2021, Gamma has recently
acquired an additional c8% of the shares of Gamma Holding GmbH ("GHG")
(formerly HFO Holding AG).  This has been achieved by a payment of 4.4m euro
in connection with an option exercise.  Gamma now owns c96% of the shares of
GHG with options to acquire the remaining c4% by the end of 2023.  GHG is a
provider of SIP Trunks and unified communications in Germany.

The payment is in the upper half of the possible range which reflects the
continued performance of the business since acquisition.

Reinvestment

Under the terms of the original agreement, the vendors of GHG have reinvested
£0.5m in Gamma (approximately 14% of the consideration received).

This reinvestment has been achieved by way of subscription for 44,558 ordinary
shares of 0.25 pence each in the capital of the Company, which will be issued
as new shares.

Gamma has applied for admission of these new ordinary shares to trading on
AIM.  Admission is expected to take place at 8.00am on 13 July 2022.

The Company's total issued share capital following admission will consist of
96,540,667 ordinary shares of 0.25 pence each with one voting right per share.
This figure may be used by shareholders as the denominator for the
calculations by which they will determine if they are required to notify their
interest in, or a change to their interest in, the share capital of the
Company under the FCA's Disclosure and Transparency Rules.

 

 Gamma Communications plc                  Tel: +44 (0) 333 006 5972

 Andrew Belshaw, Chief Executive Officer

 Bill Castell, Chief Financial Officer

 Malcolm Goddard, Company Secretary

 Tulchan Communications LLP                Tel: +44 (0) 207 353 4200

 James Macey White / Matt Low

 Investec Bank plc (NOMAD & Broker)        Tel: +44 (0) 207 597 5970
 Patrick Robb / Virginia Bull

 

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