CentralNic Group PLC (LON: CNIC), the internet platform that derives revenue from the worldwide sales of internet domain names, has today announced that its acquisition of KeyDrive SA on 16 July 2018, has exceeded the performance expectations set for FY2018.
As a result of this performance, USD 6,834,000 Additional Consideration attributable to the FY2018 objectives is payable to Inter.Services. Fifteen per cent, equaling USD 1,025,100 have been settled in cash.
The remainder of the Additional Consideration attributable to FY2018 objectives will be settled by issuing 7,384,978 Additional Consideration Shares. Inter.Services holding will increase from c.16.4% to c.19.9% of the issued share capital of the Company.
Application has been made to the London Stock Exchange for a total of 7,384,978 Ordinary Shares issued pursuant to the Additional Consideration to be admitted to trading on AIM (“Admission”). Admission is expected to occur at 8:00 a.m. on 18 June 2019. The Ordinary Shares shall rank pari passu with the existing ordinary shares in the Company. Following Admission, the Company’s enlarged issued share capital comprises of 178,137,780 Ordinary Shares with one voting right per share. There are no shares held in treasury. The total number of voting rights in the Company is therefore 178,137,780.
This figure of 178,137,780 Ordinary Shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA’s Disclosure and Transparency Rules.
Ben Crawford, CEO of CentralNic Group plc, commented:
“We have been delighted with the performance of KeyDrive’s businesses and our progress with the integration, which is tracking in line with our plans. This is testament to CentralNic’s successful acquisition strategy and ability to expertly and efficiently integrate businesses.”