Results of General Meeting

RNS Number : 8695G

1Spatial Plc

12 June 2013

 



12 June 2013

1Spatial plc

("1Spatial" or the "Company")

Results of General Meeting

- 1Spatial completes Placing of 300,000,000 new Ordinary Shares -

- 1Spatial completes acquisition of Star-Apic -

- David Richards appointed deputy non-executive Chairman -

1Spatial plc (AIM:SPA), the Spatial Big Data Company, held its General Meeting today, 12 June 2013, and all the resolutions proposed at the meeting were duly passed.

Placing

1Spatial has completed the Placing of300,000,000 new Ordinary Shares at the Placing Price of 6p per share with certain institutional investors, raising approximately £17 million of net proceeds for the Company and equating to 46.1 per cent of the enlarged issued share capital.

The new Ordinary Shares will rank equally with the existing Ordinary Shares in the Company. Application has been made to the London Stock Exchange plc for these Ordinary Shares to be admitted to trading on AIM, which is anticipated to commence at 8.00am on 13 June 2013.

On Admission the Company will have 650,415,354 Ordinary Shares of 1p each in issue, with each share carrying the right to one vote. No shares are held in treasury. Therefore the total number of voting rights in the Company is 650,415,354. This figure 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 Disclosure and Transparency Rules.

Acquisition

1Spatial has completed the 90% acquisition of Star Apic, the leading European provider of Geographic Information Systems ("GIS") software and solutions.

1Spatial believes Star-Apic is an important and highly complementary bolt-on acquisition for the Company, significantly enhancing the Company's capability in the rapidly growing Big Data market.

The Directors believe that Star-Apic will provide:

·      a utilities solution that can be sold into existing customers and markets as well as into new markets;

·      access to new markets, such as France and North Africa;

·      additional services and products to the Group's existing customer base. The Elyx software platform is built on the same core technology as 1Spatial's technology and can be integrated into the 1Spatial Management Suite easily and efficiently;

·      a map publishing tool (Mercator) to produce digital and paper maps which can be added onto 1SMS; and

·      additional product development resource to develop new products aligned to perceived customer needs.

Appointment of David Richards

David Richards has been appointed as deputy non-executive Chairman, effective immediately.

David is the CEO, President and co-founder of WANdisco which he founded in 2005. David brings a wealth of experience to the Board, with over 15 years' in the software industry, sitting on a number of advisory and executive boards of Silicon Valley start-up ventures.

David James Richards, 42, is, or has been in the previous five years, a Director of the following companies:

Current:

WANdisco, Inc

WANdisco International Limited

Previous:

Heffalump Limited

The Company confirms that there is no other information which is required to be disclosed pursuant to Schedule 2 paragraph (g) of the Aim Rules for Companies.

Commenting on today's news, Marcus Hanke, Chief Executive of 1Spatial said:

"I am happy to announce we have completed the Placing and subsequent Acquisition of Star-Apic. Star-Apic is seen as a key acquisition opportunity, providing many benefits to support the Group's expansion plans and goals. In addition the appointment of David Richard as deputy non-executive Chairman will bring a wealth of experience to the Board".

About Star-Apic:

Star-Apic is Belgium incorporated and a leading European provider of GIS software and solutions, specialising in infrastructure management (mainly utilities) and land management with offices in Belgium, France and the UK.  Elyx, its proprietary end-to-end software solution is used to make the best use of geographic data to improve efficiencies and derive business benefits.  Over the last three years,        Star-Apic has successfully migrated its existing customers onto this new Elyx technology. Like 1SMS, Elyx is based on Oracle database technology.  Following the acquisition, it is intended that Elyx will be updated so it can be integrated into 1SMS, thereby making use of the Group's accuracy and validation engine. 

Founded 30 years ago and currently employing 110 people, Star-Apic has three product areas:

-       Elyx Suite - the core product end-to-end land management and infrastructure solutions software;

-       Mercator - Cartographic publishing software; and

-       indoor location data centre infrastructure management software.

Mercator, a tool for the cartographic publishing of maps into digital and paper form, will be a complementary additional product which can be added into 1SMS. The Indoor location data centre software is noncore software but has value.  Its value and fit into the Group will be fully assessed post acquisition.

For further information please contact:

1Spatial plc	020 7382 8952
Marcus Hanke / Claire Milverton
FTI Consulting	020 7831 3113
Sophie McMillan / Lucy Delaney
Nplus1 Singer	020 7496 3000
Shaun Dobson / Matthew Thomas

Nplus1 Singer Advisory LLP

Nplus1 Singer Advisory LLP, which is a member of the London Stock Exchange, is authorised and regulated in the UK by the Financial Conduct Authority, is acting as nominated adviser and broker to 1Spatial plc in connection with the proposed Placing. Nplus1 Singer Advisory LLP is acting exclusively for 1Spatial plc in connection with the Placing and no one else. Nplus1 Singer Advisory LLP will not be responsible to anyone other than 1Spatial plc for providing the protections afforded to clients of Nplus1 Singer Advisory LLP nor for advising any other person on the transactions and arrangements described in this announcement or the Circular. No representation or warranty, express or implied, is made by Nplus1 Singer Advisory LLP as to any of the contents of this announcement or the Circular. Apart from the liabilities and responsibilities, if any, which may be imposed on Nplus1 Singer Advisory LLP by the Financial Services and Markets Act 2000 or the regulatory regime established under it, Nplus1 Singer Advisory LLP accepts no responsibility whatsoever for the contents of this announcement or the Circular or for any other statement made or purported to be made by it or on its behalf in connection with 1Spatial plc, the Existing Ordinary Shares, the New Ordinary Shares or the Placing. Nplus1 Singer Advisory LLP accordingly disclaims all and any liability whatsoever whether arising in tort or contract or otherwise (save as referred to above) which it might otherwise have in respect of this announcement or the Circular or any such statement.

 

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