AIM Schedule 1 - Maintel Holdings Plc (2147V)
April 14 2016 - 6:30AM
UK Regulatory
TIDMMAI
RNS Number : 2147V
AIM
14 April 2016
ANNOUNCEMENT TO BE MADE BY THE AIM APPLICANT
PRIOR TO ADMISSION IN ACCORDANCE WITH RULE 2
OF THE AIM RULES FOR COMPANIES ("AIM RULES")
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COMPANY NAME:
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Maintel Holdings plc ( "Maintel" or the "Company")
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COMPANY REGISTERED OFFICE ADDRESS AND IF DIFFERENT,
COMPANY TRADING ADDRESS (INCLUDING POSTCODES)
:
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160 Blackfriars Road
London
SE1 8EZ
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COUNTRY OF INCORPORATION:
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United Kingdom
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COMPANY WEBSITE ADDRESS CONTAINING ALL INFORMATION
REQUIRED BY AIM RULE 26:
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www.maintel.co.uk
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COMPANY BUSINESS (INCLUDING MAIN COUNTRY OF
OPERATION) OR, IN THE CASE OF AN INVESTING COMPANY,
DETAILS OF ITS INVESTING POLICY). IF THE ADMISSION
IS SOUGHT AS A RESULT OF A REVERSE TAKE-OVER
UNDER RULE 14, THIS SHOULD BE STATED:
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Maintel intends to acquire Warden Holdco Limited
and Warden Midco Limited being, respectively,
the holding company and intermediate holding
company of Azzurri Communications and its subsidiaries
("Azzurri Communications") (the "Acquisition").
Following completion of the Acquisition, the
business will be that of both Maintel and Azzurri
Communications (together, the "Enlarged Group").
Maintel provides a comprehensive portfolio of
communication and technology services, delivered
on-premise or cloud based, encompassing unified
communications, contact centre, workforce optimisation,
networking and security, mobile and connectivity
services, to mid-market and enterprise customers
in both the private and public sector across
the UK and Continental Europe.
Azzurri Communications provides a variety of
communication services, including telephony,
mobile services, document solutions, workforce
optimisation, security, unified communications
and managed service products.
The Enlarged Group will provide an offering
with a broad suite of solutions and services
including a network services division, a mobile
division; managed services and technology and
professional services.
The Enlarged Group's main country of operation
is the United Kingdom.
The Acquisition constitutes a reverse takeover
under AIM Rule 14. The Acquisition is subject
to shareholder approval and certain other conditions
precedent, including the delivery of the holdco
dragged shares. In the unlikely event that admission
occurs and certain conditions precedent are
not satisfied or waived, the Acquisition will
not complete. In this scenario, the Directors
intend that the proceeds of the Placing be invested
elsewhere or returned to Shareholders in due
course, subject to legal or other restrictions
on so doing.
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DETAILS OF SECURITIES TO BE ADMITTED INCLUDING
ANY RESTRICTIONS AS TO TRANSFER OF THE SECURITIES
(i.e. where known, number and type of shares,
nominal value and issue price to which it seeks
admission and the number and type to be held
as treasury shares):
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14,197,059 ordinary shares of 1 penny each ("Ordinary
Shares").
No shares held in treasury.
No restrictions as to transfer of the securities.
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CAPITAL TO BE RAISED ON ADMISSION (IF APPLICABLE)
AND ANTICIPATED MARKET CAPITALISATION ON ADMISSION:
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GBP24.0 million to be raised on Admission.
Anticipated market capitalisation on Admission:
GBP99.4 million (based on the placing price
of 700 pence).
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PERCENTAGE OF AIM SECURITIES NOT IN PUBLIC HANDS
AT ADMISSION:
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71.5 per cent.
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DETAILS OF ANY OTHER EXCHANGE OR TRADING PLATFORM
TO WHICH THE AIM COMPANY HAS APPLIED OR AGREED
TO HAVE ANY OF ITS SECURITIES (INCLUDING ITS
AIM SECURITIES) ADMITTED OR TRADED:
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None
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FULL NAMES AND FUNCTIONS OF DIRECTORS AND PROPOSED
DIRECTORS (underlining the first name by which
each is known or including any other name by
which each is known):
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John David Sebastian Booth (Non-Executive Chairman)
Edward (Eddie) Buxton (Chief Executive Officer)
Angus John McCaffery (Executive Director)
Mark Vincent Townsend (Chief Financial Director)
Kevin Stevens (Group Operations Director)
Stuart David Legg (Group Sales and Marketing
Director)
Annette Patricia Nabavi (Non-Executive Director)
Nicholas (Nick) James Taylor (Non-Executive
Director)
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FULL NAMES AND HOLDINGS OF SIGNIFICANT SHAREHOLDERS
EXPRESSED AS A PERCENTAGE OF THE ISSUED SHARE
CAPITAL, BEFORE AND AFTER ADMISSION (underlining
the first name by which each is known or including
any other name by which each is known):
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Before Admission Following Admission
------------------ ------------------------- ------------------------------
Name Number % of the Number % of the
of Existing Existing of Ordinary Enlarged
Ordinary Ordinary Shares Share Capital
Shares Shares
------------------ ------------- ---------- ------------- ---------------
J D S Booth 2,760,495 25.6% 3,331,924 23.5%
------------------ ------------- ---------- ------------- ---------------
A J McCaffery 2,055,779 19.1% 2,198,636 15.5%
------------------ ------------- ---------- ------------- ---------------
J A Spens 1,731,171 16.1% 2,088,314 14.7%
------------------ ------------- ---------- ------------- ---------------
Hargreave
Hale Limited(1) 1,461,300 13.6% 2,462,340 17.3%
------------------ ------------- ---------- ------------- ---------------
Herald
Investment
Trust(2) 610,000 5.7% 804,217 5.7%
------------------ ------------- ---------- ------------- ---------------
(1) 1,457,000 of these Ordinary Shares are held
for unit trusts operated by Malborough Fund
Managers Ltd, for whom Hargreave Hale Limited
manages the investments, on a discretionary
basis.
(2) John Booth is a shareholder of Herald Investment
Trust plc.
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NAMES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE
WITH SCHEDULE 2, PARAGRAPH (H) OF THE AIM RULES:
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None other than disclosed in the admission document
dated 8 April 2016.
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(i) ANTICIPATED ACCOUNTING REFERENCE DATE
(ii) DATE TO WHICH THE MAIN FINANCIAL INFORMATION
IN THE ADMISSION DOCUMENT HAS BEEN PREPARED
(this may be represented by unaudited interim
financial information)
(iii) DATES BY WHICH IT MUST PUBLISH ITS FIRST
THREE REPORTS PURSUANT TO AIM RULES 18 AND 19:
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(i) 31 December
(ii) 31 December 2015
(iii) 30 September 2016 (six month unaudited
results to 30 June 2016); 30 June 2017 (12 month
audited full year accounts to 31 December 2016);
30 September 2017 (six month unaudited results
to 30 June 2017);
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EXPECTED ADMISSION DATE:
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28 April 2016
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NAME AND ADDRESS OF NOMINATED ADVISER:
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finnCap Ltd
60 New Broad Street
London
EC2M 1JJ
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NAME AND ADDRESS OF BROKER:
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finnCap Ltd
60 New Broad Street
London
EC2M 1JJ
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OTHER THAN IN THE CASE OF A QUOTED APPLICANT,
DETAILS OF WHERE (POSTAL OR INTERNET ADDRESS)
THE ADMISSION DOCUMENT WILL BE AVAILABLE FROM,
(MORE TO FOLLOW) Dow Jones Newswires
April 14, 2016 06:30 ET (10:30 GMT)
WITH A STATEMENT THAT THIS WILL CONTAIN FULL
DETAILS ABOUT THE APPLICANT AND THE ADMISSION
OF ITS SECURITIES:
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www.maintel.co.uk/investors
The Admission Document contains full details
about the Company and the admission of its securities.
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DATE OF NOTIFICATION:
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14 April 2016
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NEW/ UPDATE:
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NEW
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This information is provided by RNS
The company news service from the London Stock Exchange
END
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April 14, 2016 06:30 ET (10:30 GMT)
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