Impact Holdings (UK) plc
("IHUK", "the Group" or "the Company")
Result of AGM and GM and Director Dealing
The Board of Impact Holdings (UK) plc is pleased to announce that all
resolutions were duly passed at the Company's Annual General Meeting and the
General Meeting ("GM") to approve the acquisition of Sutherland Professional
Funding Limited ("Sutherland") held earlier today.
Following shareholder approval at the GM, 1,066,666 ordinary shares of 50p each
in the capital of the Company ("Ordinary Shares") will be admitted to trading
on AIM at 8:00 am tomorrow to satisfy the consideration payable to the vendors
of Sutherland ("Consideration Shares").
466,666 of the Consideration Shares ("Vendor Placing Shares") are being placed
with Directors and other third parties ("Vendor Placing"). The Directors are
participating in the Vendor Placing as follows:
Name Ordinary Shares Price Number of Percentage
acquired under (pence per Ordinary Shares Holding
the Vendor share) Following following
Placing Agreement Admission Admission %
Richard Kilsby 26,667 75 155,370 7.06
David Hughes 6,667 75 16,667 0.75
Paul Davies 26,667 75 84,370 3.83
Roger Barlow 26,667 75 26,667 1.21
Stuart Burn 6,666 75 6,666 0.30
In addition, John Russell, Non-Executive Director, and his wife are acquiring
in aggregate 133,333 Vendor Placing Shares at a price of 75p per Ordinary
Share. Following this purchase John Russell and his wife will be beneficially
interested in 340,492 Ordinary Shares representing 15.5 per cent. of the issued
shared capital of the Company following the issue and allotment of the
Consideration Shares.
John G Russell (Transport) Limited, a company in which John Russell and his
wife hold in aggregate 50.7 per cent. of the issued share capital, is also
acquiring 133,333 Vendor Placing Shares at a price of 75p per Ordinary Share
increasing its holding to 607,407 Ordinary Shares. Including the interests of
John G Russell (Transport) Limited in the Company's Ordinary Shares, John
Russell and his wife's ultimate beneficial holding will be 947,899 Ordinary
Shares representing 43 per cent. of the issued shared capital of the Company
following the issue and allotment of the Consideration Shares.
Following Admission of the Consideration Shares the Company's total issued
share capital will comprise 2,200,000 Ordinary Shares, all of which carry
voting rights, and 10,200,006 non-voting Ordinary B Shares.
The above figure may be used by shareholders as the denominator for the
calculations by which they will determine if they are required to notify their
interest in, or change to their interest in, Impact under the FSA's Disclosure
and Transparency Rules.
For further information:
Impact Holdings (UK) plc
Paul Davies, Chief Executive Officer Tel: 0161 437 9499
Daniel Stewart & Company plc
Simon Leathers/Oliver Rigby Tel: 020 7776 6550
Notes to Editor:
Impact Holdings (UK) plc through its individual subsidiaries provides short
term funding solutions, loans administration and IT support services in two
specific sectors:
1. The legal disbursements market;
2. Property based bridging and development market.
In addition Impact will fund other opportunities where debt instruments or
debentures provide the primary security and there are opportunities for short
term bespoke funding where serviceability precludes larger lenders from
entering this area.
Impact is regulated by The Office of Fair Trading through which it is licensed
to lend under the Consumer Credit Act 1974.
END
Notice of AGM
Highlights