Business
Result of General Meeting
Result of General Meeting.
About this update from Atlantic Lithium Limited.
[{"type":"text","content":"\n \n\n14 December 2009\n\n ALLOCATE SOFTWARE PLC\n (\"Allocate\" or \"the Company\")\n\n Result of General Meeting\n\nOn 27 November 2009, Allocate announced that it had agreed the terms of a proposed acquisition (the\n\"Acquisition\") by the Company of Time Care AB (\"Time Care\"), a Swedish-based provider of workforce management\nsoftware, with a strong focus on the healthcare market, for a Net Consideration of SEK 100 million\n(approximately £8.7 million)1.\nOn the same day, Allocate also announced a placing of 15,100,000 new ordinary shares (\"New Shares\") at 55.0\npence per New Share to raise approximately £8.3 million (approximately £8.0 million net of expenses) to help\nfund the Acquisition (the \"Placing\"). The Placing has been fully underwritten by Numis Securities Limited,\nsubject to certain conditions set out in the Placing Agreement.\nThe Placing and consequently the Acquisition are conditional upon, inter alia, the approval of Shareholders.\nThe Board of Allocate is pleased to announce that at the General Meeting of its Shareholders held at 9.30 a.m.\ntoday, the Resolutions, as set out in the Notice of General Meeting sent to Shareholders on 27 November 2009,\nwere duly passed without amendment.\n\nThe Placing and consequently the Acquisition remain conditional upon the Placing Agreement becoming\nunconditional in all respects and Admission. It is expected that Admission will become effective, and dealings\nin the New Shares will commence on AIM, at 8.00 a.m. on 15 December 2009. The New Shares will, when issued and\nfully paid, rank pari passu in all respects with the existing ordinary shares, including the right to receive\nany dividend or other distribution declared, made or paid after Admission.\nCompletion of the Acquisition is anticipated to occur shortly after Admission. As at the date of this\nannouncement, all Vendors had signed the Acquisition Agreement. Consequently, upon Completion, Allocate will\nhave acquired the entire issued and to be issued share capital of Time Care.\nTerms defined in the Circular sent to Shareholders on 27 November 2009 have the same meanings in this\nannouncement.\n\nEnquiries:\nAllocate Software plc Tel: +44 (0) 20 7355 5555\nIan Bowles - Chief Executive Officer\nSimon Thorne - Chief Financial Officer\n\nNumis Securities Limited \nNominated adviser - Michael Meade / Brent Na...