IDE Group Holdings PLC Notice of General Meeting and Posting of Circular (6479W)

TIDMIDE

RNS Number : 6479W

IDE Group Holdings PLC

02 August 2018

IDE Group Holdings Plc

("IDE Group" or the "Company")

Notice of General Meeting and Posting of Circular

IDE Group Holdings plc, the mid-market network, cloud and IT Managed Services provider, announces that pursuant to the announcement made on 31 July 2018, it will be posting a circular (the "Circular") to shareholders on 3 August 2018 in connection with the proposed Transaction. The Circular will contain the notice of a general meeting to be held at 11.00 a.m. on 20 August 2018 at the offices of DAC Beachcroft LLP, 100 Fetter Lane, London EC4A 1BN.

The Company also announces, that as a result of the admission to trading on AIM on 1 August 2018 of the Firm Admission Shares , the Open Offer will raise gross proceeds of up to GBP0.55 million through the issue of up to 22,072,913 Open Offer Shares. Under the terms of the Open Offer qualifying shareholders are being given the opportunity to subscribe for Open Offer Shares at a price of 2.5 pence per share, payable in full on application and free of all expenses, pro rata to their existing shareholdings on the basis of 1 Open Offer Share for every 10 Existing Ordinary Shares. In addition, an excess application facility will enable qualifying shareholders, provided that they take up their basic entitlements under the Open Offer in full, to apply for additional Open Offer Shares to the extent that Open Offer Shares are not taken up by other qualifying shareholders. Full terms and conditions in relation to the Open Offer will be set out in the Circular.

The Circular and notice of general meeting will be made available on the Company's website, www.idegroup.com.

Where undefined, all capitalised terms in this announcement will have the same meaning as defined in the Fundraising and Open Offer announcement published on 31 July 2018.

EXPECTED TIMETABLE FOR PRINCIPAL EVENTS

 
                                                                             2018 
 Record Date and time for entitlements under                    Close of business 
  the Open Offer                                                       on 31 July 
 Posting of the Circular, the Form of Proxy                              3 August 
  and the Application Form (where applicable) 
 Existing Ordinary Shares marked 'ex' entitlement                        3 August 
  by the London Stock Exchange 
 Basic Entitlements and Excess Entitlements                 8.00 a.m. on 3 August 
  credited to CREST accounts of Qualifying 
  CREST Shareholders 
 Recommended latest time and date for requesting           4.30 p.m. on 13 August 
  withdrawal of Basic Entitlements and Excess 
  Entitlements from CREST 
 Latest time and date for depositing Basic                 3.00 p.m. on 14 August 
  Entitlements and Excess Entitlements into 
  CREST 
 Latest time and date for splitting Application            3.00 p.m. on 15 August 
  Forms (to satisfy bona fide market claims 
  only) 
 Latest time and date for receipt of Forms                   11.00 a.m. 16 August 
  of Proxy 
 Latest time and date for receipt of completed            11.00 a.m. on 17 August 
  Application Forms from Qualifying Shareholders 
  and payment in full under the Open Offer 
  or settlement of relevant CREST instructions 
  (as appropriate) 
 General Meeting                                          11.00 a.m. on 20 August 
 Admission and dealings in the New Ordinary                8.00 a.m. on 21 August 
  Shares expected to commence on AIM 
 Expected date for CREST stock accounts to                  On or after 8.00 a.m. 
  be credited for New Ordinary Shares in uncertificated              on 21 August 
  form 
 Expected date for delivery of definitive                            By 31 August 
  share certificates for New Ordinary Shares 
  to be held in certificated form 
 
 
 IDE Group Holdings Plc                      Tel: +44 (0)344 
  Bill Dobbie, Interim Chairman               874 1000 
  Ian Smith, Executive Director 
 finnCap Limited                             Tel: +44 (0)20 7220 
  Nominated Adviser and Broker                0500 
  Corporate finance: Jonny Franklin-Adams/ 
  Scott Mathieson/ Hannah Boros 
  ECM: Tim Redfern/ Richard Chambers

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 or visit www.rns.com.

END

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August 02, 2018 06:42 ET (10:42 GMT)

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