Business
Placing and Acquisition
Placing and Acquisition.
About this update from Eleco Plc
[{"type":"text","content":"\n \nRNS Number : 4109G Elecosoft PLC 06 November 2018 \n\nTHIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN, IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, CANADA, JAPAN, AUSTRALIA, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION. THIS ANNOUNCEMENT SHOULD BE READ IN ITS ENTIRETY. FURTHER DETAILS OF THE ACQUISITION AND PLACING ARE SET OUT BELOW.\nTHIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND SHALL NOT CONSTITUTE AN OFFER TO SELL OR ISSUE OR THE SOLICITATION OF AN OFFER TO BUY, SUBSCRIBE FOR OR OTHERWISE ACQUIRE ANY NEW ORDINARY SHARES OF ELECOSOFT PLC.\nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS DEFINED IN ARTICLE 7 OF THE MARKET ABUSE REGULATION NO. 596/2014 (\"MAR\"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.\n6 November 2018\nElecosoft Plc\n(\"Elecosoft\" or the \"Company\") \nAcquisition of Active Online GmbH (\"Active Online\")\nPlacing to raise £2.25 million\n \nElecosoft (AIM: ELCO), a developer of award winning software applications and related services within the architectural, engineering, construction and owner/operator sectors, is pleased to announce that it has signed an agreement for the acquisition of Active Online GmbH (\"Active Online\") for an initial consideration of €3.45m (comprising cash and ordinary shares) and a potential further bonus payment of up to €0.4m dependent on the attainment of specific performance and financial targets in the 3 years following completion (the \"Acquisition\").\nThe Board announces that it has also raised funds via an equity placing to raise £2.25m at 70 pence per new Ordinary Share, conditional on Admission (as defined and further explained below).\nFurther details of the Acquisition and Placing are set out below and this announcement should be read in its entirety.\nAcquisition Highlights:\n· Active Online is headquartered in Wesel, Germany and has developed a range of software applications for the visualisation of soft furnishings. \n \n· Its expert knowledge and experti...