REG - KRM22 PLC - Issue of Equity

KRM22Announcement

10/04/2024 07:00

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RNS Number : 9294J  KRM22 PLC  10 April 2024

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 140,187
new ordinary shares of 10 pence each in the Company ("Ordinary Shares"),
representing 0.4% 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$765k 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 will be made for the new Ordinary Shares to be admitted to trading
on AIM and dealings are expected to commence on 12 April 2024.

 

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 35,806,523. The Company does not hold any shares in
treasury. Accordingly, the figure of 35,806,523 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 / George Dollemore (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

 

 

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