Location Sciences - Further update on proposed acquisition of Sorted
20/12/2023 07:00
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RNS Number : 3810X Location Sciences Group PLC 20 December 2023
20 December 2023
This announcement contains inside information for the purposes of Regulation
11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310. With the
publication of this announcement via a Regulatory Information Service, this
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Location Sciences Group PLC
("Location Sciences" or the "Company" or the "Group")
Further update on proposed acquisition of Sorted Holdings Limited
Further to the Company's announcement on 28 June 2023, Location Sciences (AIM:
LSAI) provide a further update on its proposed acquisition of the entire
issued share capital of Sorted Holdings Limited ("Sorted") (the "Proposed
Acquisition").
The Company currently expects to publish an AIM admission document (the
"Admission Document") in respect of the Proposed Acquisition by the end of
January 2024 at the latest, following which point the Company will seek the
restoration of trading of the Company's ordinary shares on AIM.
A considerable amount of work has already been carried out and the Company
continues to diligently progress the transaction towards completion.
Simon Wilkinson, Chairman of Location Sciences, commented:
"We believe that the proposed acquisition of Sorted will deliver a
transformational deal to the Company with the potential to deliver
considerable future value to all our stakeholders. A huge amount of work has
been carried out to progress this transaction in the last few months. We look
forward to providing further updates in due course."
Carmen Carey, CEO of Sorted, commented:
"The management at Sorted is pleased with the collective progress made to date
in relation to the proposed transaction while we continue to maintain our core
focus of delivering a quality service to our customers."
The Company will release further announcements as and when appropriate.
For further information please contact:
Location Sciences Group
PLC
via Allenby Capital
Simon Wilkinson, Chairman
Allenby Capital Limited (Nominated
Adviser)
Tel: +44 (0)20 3328 5656
David Hart
Vivek Bhardwaj
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