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Learning Tech Gp PLC - Issue of new ordinary shares

RNS Number : 6620I
Learning Technologies Group PLC
03 April 2020
 

3 April 2020 

 

Learning Technologies Group plc

(AIM: LTG)

 

Issue of new ordinary shares

 

In its trading update on 24 March LTG announced that it had taken a number of proactive measures to prioritise the strong liquidity and net cash position of the Group in response to the COVID-19 outbreak.

 

Following the exceptional performance of BreezyHR (acquired in April 2019), which delivered c.60% organic revenue growth in the full-year, one of the measures announced was that $4.0 million of the deferred contingent consideration due would be settled in shares in lieu of a cash payment.

 

As a result the Company confirms that application has been made to the London Stock Exchange for the admission of 2,408,585 new ordinary shares to trading on AIM.  Admission is expected to take place at 8.00am on 7 April 2020.

 

Following the anticipated admission of these shares, the total number of ordinary shares of 0.375p each in the capital of the Company in issue will be 671,937,073 with each share carrying the right to one vote.

 

LTG holds 404,340 shares in treasury. The figure of 671,532,733 may be used by shareholders in the Company 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 share capital of the Company under the Disclosure and Transparency Rules.

 

 

Enquiries:

 

Learning Technologies Group plc

Jonathan Satchell, Chief Executive

Neil Elton, Chief Financial Officer

 

+44 (0)20 7402 1554

Numis Securities Limited

Stuart Skinner (Nominated Adviser)

Ben Stoop (Corporate Broker)

 

+44 (0)20 7260 1000

Goldman Sachs International (Joint Corporate Broker)

Bertie Whitehead, Adam Laikin

 

+44 (0)20 7774 1000

FTI Consulting (Public Relations Adviser)

Rob Mindell, Jamie Ricketts, Chris Birt

+44 (0)20 3727 1000

 

 

 


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Quick facts: Learning Technologies Group PLC

Price: 135.8

Market: AIM
Market Cap: £912.01 m
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Learning Technologies Group in 'strong financial position' and working to...

Learning Technologies Group PLC (LON:LTG) chief executive Jonathan Satchell runs Proactive London's Andrew Scott through the firm's 2019 trading update and the precautions they're taking to limit the impact of COVID-19 on its business and performance. For the year ended 31 December 2019...

on 24/3/20