REG - KRM22 PLC - Issue of Equity

KRM22Announcement

18/03/2025 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250318:nRSR9948Aa&default-theme=true

RNS Number : 9948A  KRM22 PLC  18 March 2025

KRM22 plc

("KRM22", the "Group" or the "Company")

Issue of Equity

 

KRM22 plc, (AIM: KRM) the technology and software investment company that
focuses on risk management for capital markets, announces that, to satisfy a
partial payment of deferred consideration payable with respect to the
acquisition of Object+, as announced on 30 May 2019, it has allotted 70,093
new ordinary shares of 10 pence each in the Company ("Ordinary Shares"),
representing 0.2% of issued share capital.

 

As previously announced, the acquisition agreement allowed the deferred
consideration payable thereunder to be settled in cash or by an allotment of
shares in the Company at £0.85 per Ordinary Share being the value weighted
average closing price for the 60 consecutive trading days prior to completion
of the acquisition in 2019. The Company has elected to satisfy the partial
payment of deferred consideration by way of issuing new Ordinary Shares so as
to conserve cash within the Group.

 

The Company confirms that a total of US$450k deferred consideration remains
outstanding to the vendor of Object+ following the above forementioned payment
through the issue of new Ordinary Shares. The terms of the earn out remain the
same such that if the Company elects to pay out under the terms of the
deferred consideration then 30 per cent. has to be satisfied in cash to
satisfy the vendors personal tax liabilities. However, if the vendor makes the
request, payment can be entirely satisfied by the issue of new Ordinary
Shares.

 

Application has been made for the new Ordinary Shares to be admitted to
trading on AIM and dealings are expected to commence on 21 March 2025.

 

The new Ordinary Shares will rank pari passu with the Company's existing
Ordinary Shares. The total number of Ordinary Shares in issue following
Admission will be 36,100,915. The Company does not hold any shares in
treasury. Accordingly, the figure of 36,100,915 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 Guidance and Transparency Rules.

 

 

For further information please contact:

 

 KRM22                                                                                                                                                                                   InvestorRelations@krm22.com (mailto:InvestorRelations@krm22.com)
 plc

 Garry Jones, Chairman

 Dan Carter, CEO

 Kim Suter, CFO

 Cavendish Capital Markets Limited (Nominated Adviser and Sole                                                                                                                           +44 (0)20 7220 0500
 Broker)

 Carl Holmes / Isaac Hooper / Rory Sale (Corporate Finance)

 Sunila de Silva (ECM)

 

 

About KRM22 plc

KRM22 is a closed-ended investment company which listed on AIM on 30 April
2018.  The Company has been established with the objective of creating value
for its investors through the investment in, and subsequent growth and
development of, target companies in the technology and software sector, with a
focus on risk management in capital markets.

 

Through its investments and the Global Risk Platform, KRM22 helps capital
market companies reduce the cost and complexity of risk management.  The
Global Risk Platform provides applications to help address firms' trading and
corporate risk challenges and to manage their entire enterprise risk profile.

 

Capital markets companies' partner with KRM22 to optimise risk management
systems and processes, improving profitability and expanding opportunities to
increase portfolio returns by leveraging risk as alpha.

 

KRM22 plc is listed on AIM and the Group is headquartered in London, with
offices in several of the world's major financial centres.

 

See more about KRM22 at KRM22.com

 

 

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 (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  IOEFLFSEVAIDLIE