SAPO PLC - Acquisition - Admission of Enlarged Share Capital
RNS Number : 7003C
SAPO PLC
21 October 2020
 

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT HAS NOT BEEN APPROVED BY THE LONDON STOCK EXCHANGE, NOR IS IT INTENDED THAT IT WILL BE SO APPROVED.

 

 

Rural Broadband Solutions Plc

("RBBS" or "the Company")

 

Acquisition of Secure Web Services Limited, Placing and Subscription having raised £2,500,000, Issue of Warrants, Admission of the Enlarged Share Capital to trading on the AQSE Growth Market and Change of Name to Rural Broadband Solutions Plc

 

Following the approval of all the Resolutions contained in the Notice of Extraordinary General Meeting by the Shareholders at the Company's Extraordinary General Meeting held on Monday, 19 October 2020, Rural Broadband Solutions Plc (AQSE: RBBS), formerly SAPO Plc, is pleased to announce that the Company's Enlarged Share Capital shall be admitted to trading onto the AQSE Growth Market today, Wednesday, 21 October 2020.

 

Enlarged Share Capital Table on Admission:

 

Existing Ordinary Shares in Issue

187,292,810

Placing and Subscription Shares

100,000,000

Shares in consideration for services

800,000

Consideration Shares (New Developments Limited)

16,000,000

Enlarged Share Capital on Admission

304,092,810

 

The Placing Shares and the Subscription Shares together with the Consideration Shares and shares issued in consideration for services will, on Admission, rank pari passu in all respects with the Existing Ordinary Shares, each carrying the right to one vote and including the right to receive dividends and other distributions declared, made or paid in respect of the Ordinary Shares.

 

Keith Harris, Executive Chairman, commented:

 

"We are delighted to be concluding this acquisition and fundraising, which will give investors an opportunity to benefit from exposure to the underserved rural broadband market.  We will drive growth in Secure Web Services Limited's already loyal customer base, through planned network upgrades eligible for Government funding and through selective appropriate acquisitions.  Developing this sector is a crucial element to the future growth of the UK economy, with so many people relying on a good broadband connection in all areas of the country. We thank existing and new shareholders for their support and look forward to updating the market with further progress in due course."

 

Further information on the Acquisition of Secure Web Services Limited is set out in the Admission Document, which is available at the Company's website: www.ruralbroadbandsolutions.com

 

The Directors of the Company accept responsibility for this announcement.

 

For further information please contact:

 

Keith Harris

Executive Chairman

Rural Broadband Solutions Plc

www.ruralbroadbandsolutions.com

info@ruralbroadbandsolutions.com

 

AQSE Stock Exchange Corporate Adviser  

Alfred Henry Corporate Finance Limited

Jon Isaacs

jisaacs@alfredhenry.com 

www.alfredhenry.com 

Tel: +44 (0) 203 772 0021

 

AQSE Stock Exchange Corporate Broker          

Hybridan LLP   

Claire Louise Noyce

claire.noyce@hybridan.com

www.hybridan.com       

+44 20 3764 2341

 

 

 

 

 

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