Transactions in own shares and Total Voting Rights

RNS Number : 2140T

Taptica International Ltd

24 March 2016

 

24 March 2016

Taptica International Limited

("Taptica" or the "Company")

Transactions in own shares and Total Voting Rights

Taptica (AIM: TAP), a global end-to-end mobile advertising platform, today announces that it has bought back 6 million Taptica ordinary shares of NIS 0.01 ("Ordinary Shares") at a price of 65 pence per share. The purchased shares will be held as dormant shares under the Israeli Companies Law ("Dormant Shares").

On 26 March 2016 the Company acquired 6 million Ordinary Shares from Cababie Holdings Limited and Dooi Holdings Limited (together the "Vendors"). The shares purchased represent approximately 8.76 per cent. of the total voting rights of the Company. 

The Company bought shares alongside existing and new institutional investors in the Company and the aggregate consideration of £3,900,000 will be satisfied from the Company's existing cash resources.

Following the share purchase the Vendors have a beneficial interest in 6,415,414 Ordinary Shares which equals approximately 10.26 per cent. of the Company's total voting rights.

The Vendors have undertaken to the Company and Investec Bank plc not to dispose of Taptica Ordinary Shares for a period of 12 months following the date of this announcement without the prior consent of Investec Bank plc.

Related Party Transactions

Under the AIM Rules for Companies (the "AIM Rules"), any person who holds more than 10% of the issued share capital of the Company is deemed a related party of the Company and therefore Dooi Holdings Limited and Cababie Holdings Limited constitute related parties. The transaction described above also constitutes a related party transaction as defined by Rule 13 of the AIM Rules for Companies. The directors of the Company consider, having consulted with Investec Bank plc, the Company's nominated adviser, that the terms of the transaction are fair and reasonable insofar as the Company's shareholders are concerned.

Total Voting Rights

The Company advises that, following this purchase, the Company's issued share capital consists of 62,505,477 Ordinary Shares each with one vote and 6,000,000 shares reclassified as Dormant Shares under the Israeli Companies Law (without any rights attached thereon). Therefore the total number of shares with voting rights is now 62,505,477. This figure represents the total voting rights in the Company and may be used by shareholders as the denominator for the calculations by which they can determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure and Transparency Rules

Tim Weller, Chairman of Taptica, said: "We welcome the support from existing and new shareholders who bought shares alongside the Company and look forward to working with them to continue to drive the Company forward. The Board's decision to acquire shares in this placing is part of the Board's ongoing review of its balance sheet and the most efficient use of cash reserves as well as its view of the Company's confidence in the long-term outlook."

For further details:

Taptica	[phone]
Hagai Tal, Chief Executive Officer	www.taptica.com
Investec Bank plc (Nominated Adviser and Broker) Dominic Emery Junya Iwamoto	[phone]
Luther Pendragon Harry Chathli Claire Norbury Oliver Hibberd	[phone]

About Taptica

Taptica is a global end-to-end mobile advertising platform that helps the world's top brands reach their most valuable users with the widest range of traffic sources available today, including social. Its proprietary technology leverages big data and, combined with state-of-the-art machine learning, enables quality media targeting at scale. Taptica creates a single arena in which brands can scale and engage more relevantly with mobile audiences, staying ahead of the competition. It works with more than 450 advertisers including Amazon, Disney, Facebook, Twitter, OpenTable, Expedia, Lyft and Zynga. Taptica is headquartered in Israel with offices in San Francisco, New York, Boston and Beijing. Taptica is traded on the London Stock Exchange (AIM: TAP).

For further information, please visit www.taptica.com  

 

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