REG - Iomart Group PLC - Statement re Press Comment

iomartAnnouncement

25/09/2024 16:15

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RNS Number : 6767F  Iomart Group PLC  25 September 2024

25 September 2024

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

 

 

iomart Group plc

("iomart" or the "Group" or the "Company")

 

Statement re press speculation

 

The Board of iomart notes the recent press speculation and confirms that the
Company is in exclusive talks with regard to the possible acquisition of
Kookaburra Topco Limited ("Kookaburra"), the holding company of Atech Support
Limited ("Atech"), a leading, highly accredited Microsoft Solutions Partner,
delivering complex, multi-platform solutions, public cloud digital
transformation and specialised managed security services to mid-sized
enterprises (the "Possible Acquisition").

There is no guarantee that the Possible Acquisition will proceed, however, if
it were to proceed, it would be financed from the Company's existing cash
resources and banking facilities and be classified as a Substantial
Transaction under the AIM Rules for Companies.

The Directors of iomart believe that the Possible Acquisition of Atech would
accelerate iomart's growth strategy, positioning the enlarged group as the
leading provider of secure public, private and hybrid cloud services to
mid-sized enterprises in the UK.

Further announcements will be made as and when appropriate.

 

This announcement contains inside information for the purposes of assimilated
Regulation (EU) No.596/2014, as it forms part the laws of the United Kingdom
by virtue of the European Union (Withdrawal) Act 2018 (as amended). The person
responsible for releasing this announcement on behalf of the Company is Scott
Cunningham, CFO.

 

 

For further information please contact:

 iomart Group plc                                                                           Tel: 0141 931 6400
 Lucy Dimes, Chief Executive Officer
 Scott Cunningham, Chief Financial Officer

 Investec Bank PLC                                                                          Tel: 020 7597 4000

 (Nominated Adviser
 and Broker)
 Patrick Robb, Virginia Bull

 Alma Strategic Communications                                                              Tel: 020 3405 0205
 Caroline Forde, Hilary Buchanan, Kinvara Verdon

 

About iomart Group plc

iomart Group plc (AIM: IOM) is a cloud computing and IT managed services
business providing hybrid cloud infrastructure, data management, protection
and cyber security services, and digital workplace capability. Our mission is
simple: to make our customers unstoppable by enabling them to connect, secure
and scale anywhere, anytime. From our portfolio of data centres we own and
operate across the UK to connected sites around the world, our 500-strong team
can design and deploy the right cloud solution for our customers.

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