Business
Replacement of Deferred Consi
Replacement of Deferred Consi.
About this update from Velocity Composites Plc
[{"type":"text","content":"\n RNS Number : 0521V Velti PLC 22 May 2008 \n \n\n\n\n\n\n\nFor Immediate Release\n\n\nTHURSDAY, 22 May 2008\n\n\n\n\n\nVelti plc\n\nReplacement of\nPayment of Deferred Consideration for M Telecom acquisition\n\nThe further deferred consideration date in the second paragraph on the announcement released on 22 May 2008 at 07:00 under RNS No 0195V was incorrect and should read 30 April 2009. The announcement text is otherwise unchanged and is reproduced in full below.\n\nVelti announces that further to the acquisition of M Telecom, as announced on 23 March 2007, the Company has satisfied part of the deferred consideration for the acquisition by a cash payment of €280,000 and the issue of 195,658 ordinary shares in the Company at an issue price of 162.6p per share. \n\nIn accordance with the sale and purchase contract, there will be a further and final payment of deferred consideration which will be calculated and settled on 30 April 2009. The overall total consideration will not exceed €2.56 million.\n\nApplication has been made for these shares to be admitted to trading on AIM and dealings are expected to commence on 27th May 2008.\n\nEND\n\nCONTACTS\n\n\n\n\n\nVelti:\n\n\n\n\n\n\n\nAlexandros Moukas, Chief Executive Officer\n\n\n+44 (0) 20 7633 5000\n\n\n\n\nPantelis Papageorgiou, Director of Finance\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nBankside:\n\n\n+44 (0) 20 7367 8888\n\n\n\n\nSimon Bloomfield or Steve Liebmann \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nRBC Capital Markets:\n\n\n+44 (0) 207 653 4667\n\n\n\n\nSarah Wharry\n\n\n\n\n\n\n\n\n\nAbout Velti\n\nVelti's market-leading mobile marketing technology platform, coupled with its experience in the mobile advertising industry, enables clients around the world to deliver an extensive range of highly targeted marketing campaigns. With operations in 18 countries, and a mobile marketing joint venture with the Interpublic group, a top global holding group of advertising agencies, Velti has the ability to reach through its platform an estimated 1.4 billion consumers. \n\nVelti's unique Mobile Marketing and Advertising Platform (version 4.0) manages the full cycle of planning, execution and monitoring of multiple campaigns across differing mobile formats and channels, offering customers more than 70 mob...