Imagination Technologies Group plc announces that following the acquisition of Posedge Inc. in August 2013, it will be satisfying the second of the four annual instalments in the base consideration relating to this acquisition through the issue of shares. As a result the Company has issued and allotted 658,130 ordinary shares of 10 pence.
An application has been made to The UK Listing Authority and The London Stock Exchange for the 658,130 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 8 August 2014.
In addition to the base consideration, the shareholders of Posedge are eligible for an earn-out consideration which will also be payable in shares at the end of each of the first three years. The assessment of the level of earn-out consideration for the first year will be completed in September 2014 and if a share issue is required an announcement regarding the listing of the shares will be made then.
Imagination Technologies Group plc
Richard Smith, CFO
Tel: 01923 260 511
Adrian Duffield/Kay Larsen
Tel: 020 7457 2020