Business
Early Settlement of Contingen
Early Settlement of Contingen.
About this update from Netcall Plc
[{"type":"text","content":"\n RNS Number : 4983S Netcall PLC 10 September 2010 \n \n\n10 September 2010\nNETCALL PLC\n(\"Netcall\" or the \"Company\")\n \nEarly Settlement of Contingent Consideration\n \nNetcall plc (AIM:NET), a leading provider of callback, speech automation, workforce management and data integration solutions, announces that the Company and its wholly-owned subsidiary, Telephonetics Limited (\"Telephonetics\") have entered into an agreement with certain of the vendors of Datadialogs Limited (\"Vendors\") for an early settlement of potential contingent consideration outstanding of up to £1.6 million payable in the period to March 2011. Arrangements were concluded in April 2010 with the other vendor of Datadialogs Limited in full and final settlement of his entitlement to contingent consideration.\n \nPursuant to the agreement, Netcall will pay £50,000 cash, and issue 425,530 new ordinary shares of 5 pence each in Netcall (\"Shares\") at 11.75 pence per Share, being the closing middle market price on 7 September 2010, to the Vendors. These amounts will constitute full and final settlement of Telephonetics' and Netcall's obligations to the Vendors in respect of the contingent consideration. \n \nApplication will be made to the London Stock Exchange for the new Shares to be admitted to trading on AIM. Dealings of the new Shares are expected to commence at 8.00 a.m. on 16 September 2010.\n \nHenrik Bang, CEO of Netcall, commented, \"The board is pleased to announce the early settlement of the contingent consideration for Datadialogs. The settlement enables the immediate integration of Datadialogs into all areas of our business, accelerating potential synergies and creating a clearer group structure. In the current climate, Datadialogs' ability to provide rapid efficiency improvements represents a significant benefit for our customers.\"\n \nFor further enquiries, please contact:\n \n\n\n\n\nNetcall plc \n\n\n\n\n\n\n\nHenrik Bang, CEO\nJames Ormondroyd, Group Finance Director\n\n\nTel. +44 (0) 1480 495300\nTel. +44 (0) 1442 242 242\n\n\n\n\n\n\n\n\n\n\n\n\nEvolution Securities Limited\n\n\nTel. +44 (0) 20 7071 4300\n\n\n\n\nBarry Saint/ Esther Lee - Nominated Adviser\n\n\n\n\n\n\n\nTim Redfern -...