InterQuest Group plc - Completion of Acquisition of Albany Beck Consulting Limited

Pubished 5th April 2018


Prior to publication, the information contained within this announcement was deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). With the publication of this announcement, this information is now considered to be in the public domain.

5 April 2018

INTERQUEST GROUP PLC

("InterQuest", the "Company" or the "Group")

Completion of Acquisition of Albany Beck Consulting Limited

Further to its announcement on 15 March 2018, InterQuest Group plc, is pleased to announce the completion of the acquisition of 95 per cent. of the issued share capital of Albany Beck Consulting Limited ("Albany Beck") (the "Acquisition"). The consideration for the Acquisition will be satisfied through the issue of 13,273,400 new ordinary shares in the Company (the "Consideration Shares") to the selling shareholders of Albany Beck (the "Selling Shareholders").

Completion of the Acquisition was conditional upon Albany Beck and the Selling Shareholders having complied with the provisions contained in Albany Beck's articles of association (the "Condition"). The transfer and pre-emption provisions contained within Albany Beck's articles of association required shares in the capital of Albany Beck to be offered to the existing shareholders of Albany Beck and for such offer to remain open for 21 days. The offer period expired on 4 April 2018, and the eligible shareholders of Albany Beck did not take up their acquisition rights. Therefore, the Condition has been satisfied and InterQuest has completed the acquisition of 95 per cent. of the issued share capital of Albany Beck.

Application will be made to the London Stock Exchange plc for the admission of 13,273,400 Consideration Shares to trading on AIM ("Admission"). The Consideration Shares will rank pari passu with the existing ordinary shares of the Group. Admission of the Consideration Shares is expected to take place at 8.00am on 10 April 2018.

Following Admission, Gary Ashworth, will have an interest in 30,203,572 ordinary shares in the Company, equating to 58.16 per cent. of the voting rights in the Company. This includes the 22,544,070 ordinary shares held by Chisbridge Limited, the Company's major shareholder. James Constable, a Selling Shareholder, will have an interest in 5,613,898 ordinary shares, equating to 10.81 per cent. of the voting rights in the Company.

Following Admission, the issued share capital of the Company will consist of 51,931,129 ordinary shares, with one voting right per share. The Company holds 2,000 ordinary shares in treasury. Therefore, the total number of ordinary shares and voting rights in the Company will be 51,929,129. The figure of 51,929,129 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 to their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014.

Enquiries:

InterQuest Group plc Tel: +44 (0) 20 7025 0100
Chris Eldridge (CEO)
David Bygrave (CFO)
Allenby Capital Limited (Nomad) Tel: +44 (0)20 3328 5656
John Depasquale and Asha Chotai

This information is provided by RNS

The company news service from the London Stock Exchange