Business
Correction: Payment of Deferred Consideration
Correction: Payment of Deferred Consideration.
About this update from Sysgroup Plc
[{"type":"text","content":"\n \nRNS Number : 7140Y SysGroup PLC 07 March 2017 \n\nThe following amendment has been made to the Deferred Consideration and Issue of Equity re Q4Ex announcement released today 07 March 2017 at 07:00 under RNS No 6701Y.\n \nThe Number of Ordinary Shares for Paul Jones in the Change in Directors' and Vendors' holdings table has now been amended to 717,927 from 76,364. All other language remains the same. The full amended text is shown below.\n \nSysGroup plc\n(\"SysGroup\" or the \"Company\" or the \"Group\")\n \nPayment of Deferred Consideration and Issue of Equity\n \nFurther to the announcement of 14 February 2017, the Group announces that Q4Ex Limited (\"Q4Ex\") has exceed the financial targets for the period to 31 December 2016, triggering a final payment of Earn-out consideration of £416,000, to be settled through the issue of 611,766 new ordinary shares (\"Earn-out Shares\") to the vendors of Q4Ex (\"Vendors\") at price of 68 pence per share.\n \nChange in Directors' and Vendors' holdings\nIn light of the issue of the Earn-out Shares, the percentage holdings of the Vendors and Directors of the Group will be as follows:\n \n\n\n\n\nVendor\n \n\n\nEarn out Shares issued\n\n\nNumber of Ordinary Shares\n\n\n% of Enlarged Share Capital1\n \n\n\n\n\nChristopher Evans2\n\n\n195,765\n\n\n1,040,611\n\n\n4.50\n\n\n\n\nPaul Jones\n\n\n195,765\n\n\n717,927\n\n\n3.11\n\n\n\n\nArthur Duffy\n\n\n195,765\n\n\n712,500\n\n\n3.08\n\n\n\n\nOther\n\n\n24,7471\n\n\n99,286\n\n\n0.43\n\n\n\n\n \n \n\n\n\n\nDirector\n \n\n\nNumber of Ordinary Shares\n\n\n% of Enlarged Share Capital1\n \n\n\n\n\nChristopher Evans2\n\n\n1,040,611\n\n\n4.50\n\n\n\n\nMichael Edelson\n\n\n689,600\n\n\n2.98\n\n\n\n\nRobert Khalastchy\n\n\n6,346\n\n\n0.03\n\n\n\n\nAmy Yateman-Smith3\n\n\nNil\n\n\nNil\n\n\n\n\n \nNotes:\n1. The Group's share capital of 23,103,898 ordinary shares of 1p each as enlarged by the 611,766 Earn-out Shares, which are expected to be admitted to trading on AIM on 10 March 2017. (\"Enlarged Share Capital\").\n2. Christopher Evans is a vendor of Q4Ex and received 195,765 Earn-out Shares\n3. Representative of Livingbridge VC LLP\n \nAdmission to trading and total voting r...