REG - IDOX PLC - Payment of Earnout and Allotment of Shares

IdoxAnnouncement

13/06/2023 07:00

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RNS Number : 4636C  IDOX PLC  13 June 2023

13 June 2023

Idox plc

("Idox", "the Company" or "the Group")

Payment of Earnout and Allotment of Shares

Idox plc (AIM: IDOX) a leading supplier of specialist information management
software and solutions to the public and asset-intensive sectors, announces
that it has issued 814,336 new ordinary shares of 1 pence each in the Company
("Earn Out Shares") as part payment of the third earn-out consideration in
respect of its acquisition of Aligned Assets Limited, as announced on 7 June
2021 ("Acquisition"). The third earn-out will be paid in full on 14 June 2023,
comprising £0.5m in cash and 814,336 shares.  The earn-out was based on
providing certain product deliverables during the 18-month period following
the Acquisition. The total consideration was £10.5m, of which £7.5m was paid
in cash at the time of the Acquisition in June 2021. The total earn-out
consideration for the Acquisition comprised a payment of £1.5m in cash, and
2,443,000 in shares, payable over a 24-month period. These amounts will
complete the full consideration for the Acquisition.

Applications have been made for the 814,336 Earn Out Shares to be admitted to
trading on AIM ("Admission"). It is expected that Admission will occur at 8.00
a.m. on or around 14 June 2023.

The total number of ordinary shares in issue following Admission will be
454,363,314. The Company does not hold any ordinary shares in treasury.
Therefore, the total number of ordinary shares with voting rights in the
Company will be 454,363,314.

The above figure of 454,363,314 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
Company under the FCA's Disclosure and Transparency Rules.

 For further information please contact:

Idox plc
               +44 (0) 870 333 7101

Chris Stone, Non-Executive Chairman

David Meaden, Chief Executive

Anoop Kang, Chief Financial Officer

Peel Hunt LLP (NOMAD and Broker)             +44 (0) 20 7418 8900

Paul Gillam

Michael Burke

James Smith

MHP
Communications
+ 44 (0) 203 128 8276

Reg Hoare
          idox@mhpgroup.com

Ollie Hoare

Matthew Taylor

About Idox plc

For more information see www.idoxplc.com (http://www.idoxplc.com/) ,
@Idoxgroup

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