|
Earn-out relating to acquisition of
STB Systems Ltd..
The Board of Lombard Risk Management plc is pleased to announce
that the first tranche of earn-out consideration in respect
of the acquisition of STB Systems Ltd (“STB Systems”)
has been achieved in full by the vendors of STB Systems.
As a result of the achievement in full of this first earn-out,
which is payable wholly in new ordinary shares in the Company,
5,000,000 new ordinary shares of 0.5 pence each in the Company
(“New Ordinary Shares”) will be issued to the
vendors of STB Systems.
The consideration for the second tranche of the earn-out will
be calculated by reference to the financial results of STB
Systems for the period ending 31 March 2006. The maximum consideration
payable under the second tranche of the earn-out will be a
further 5,000,000 ordinary shares in the Company.
As a result of the issue of the 5,000,000 New Ordinary Shares,
there will be a total of 130,535,610 shares of the Company
in issue. Application has been made for the admission of the
New Ordinary Shares to trading on AIM and it is expected that
admission will become effective and that dealings in the New
Ordinary Shares will commence on 23 December 2005. The New
Ordinary Shares will rank pari passu with all existing ordinary
shares in the Company.
Enquires:
Lombard Risk Management plc:
John Wisbey, Chairman and CEO
Tel : +44 (0)20 7384 5000
STB Systems Ltd
Michael Thomas, CEO
Tel: +44 20 7403 2188
Click here to email Lombard Risk's Investor Relations team
|
Solutions