Business
Admission to AIM, First Day of Dealings and TVR
Admission to AIM, First Day of Dealings and TVR.
About this update from Getbusy Plc
[{"type":"text","content":"\n \nRNS Number : 0639N GetBusy PLC 04 August 2017 \n\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, SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.\n \nGetBusy Plc\n \n(\"GetBusy\", the \"Company\" or the \"Group\")\n \nAdmission to AIM, First Day of Dealings and Total Voting Rights\n \nDocument management software business admitted to trading on AIM via a fully underwritten £3.0 million rights issue\n \nGetBusy Plc (AIM: GETB.L), the developer of SmartVault and Virtual Cabinet document management software, announces its admission to trading on AIM at 08:00 UK time today (\"Admission\"), having raised £3.0 million via a fully underwritten rights issue.\n \nThe number of shares in issue immediately after admission will be 48,399,614 giving the Company a Market Capitalisation of approximately £13.7 million at the Rights Issue Price of 28.3 pence (A$0.48).\n \nGetBusy's trading symbol is GETB and the Company's ISIN code is GBOOBYP36B44.\n \nGrant Thornton is acting as Nominated Adviser and Stockdale Securities Limited is acting as Broker to the Company.\n \nRationale for Admission\nGetBusy, based in Cambridge, UK, has been formed by the demerger of the document management software business and assets of Reckon Limited (\"Reckon\"), an ASX listed technology group, which reported revenues of A$97.8 million and an EBITDA of A$35.3 million for the 12-month period to 31 December 2016.\n \nTwo document management software products, \"SmartVault\" and \"Virtual Cabinet\", have seen encouraging growth rates amongst their target customer bases, which are SMEs and larger organisations in the Enterprise Content Market (\"ECM\") respectively. In order to capitalise on the market opportunity, it was decided that these products would be best served in a separate business entity that did not have the same organisational restrictions as Reckon. The Directors believe that Admission will position GetBusy for its next stage of development, further raising the profile of the Group in its core markets, incentivising employees and providing the Group with a full...