Imagination Technologies Group plc announces that following the acquisition of Kisel Microelectronics AB in December 2013, it will be satisfying the contingent consideration due on the first anniversary of the acquisition. As a result the Company has issued and allotted 85,852 ordinary shares of 10 pence. In addition, the Company will make an earn-out payment relating to the acquisition through a further issue of shares in February 2015.
Kisel Microelectronics AB is a provider of radio frequency IP for wireless connectivity. This acquisition strongly complements the Ensigma connectivity IP as well as boosting the SoC design services and IP platform delivery capability.
An application has been made to The UK Listing Authority and The London Stock Exchange for the 85,852 Ordinary shares of 10 pence each, to trade on The London Stock Exchange and to be admitted to The Official List. These shares shall rank equally with the existing issued shares of the Company.
It is expected that admission of the shares will take place on 23 January 2015.
Imagination Technologies Group plc
Tel: 01923 260511
Richard Smith, CFO
Anthony Llewellyn, Company Secretary