Issuance of Ordinary Shares

RNS Number : 2113G

SocialGO plc

27 June 2012

 



SocialGO plc

("SocialGO" or the "Company")

Issuance of Ordinary Shares

The Company has today issued 2,500,000 Ordinary Shares to First Columbus LLP, Broker to the Company.  5,833,333 Ordinary Shares have also been issued to the vendors of Get On With It Limited ('GOWIT'), which includes two SocialGO Directors, pursuant to the acquisition of GOWIT by the Company as was announced by the Company on 24 December 2009.

Issue of Ordinary Share to First Columbus LLC

The company issued 2,500,000 new Ordinary Shares at a price of 1p to First Columbus LLC in settlement of annual broker fees. 

Issue of Ordinary Shares to the vendors of GOWIT

As was announced by the Company on 24 December 2009 the vendors of GOWIT, including two SocialGO plc Directors, are entitled to awards of Ordinary Shares pursuant to the acquisition of GOWIT by the Company. A total of 5,833,333 Ordinary Shares have now vested in favour of the vendors of GOWIT, 5,219,298 of which have now vested in favour of SocialGO Directors under these awards as follows:

Name of Director	Position of Director	Number of Ordinary Shares vested 12 January 2012, issued 26 June 2012	Remaining Ordinary Shares to be issued between 12 January 2013 and 12 January 2014 under the GOWIT acquisition agreement
Alex Halliday	Non-Executive Director	2,763,158	5,526,316
Steve Hardman	COO	2,456,140	4,912,280

Following this award, Mr Halliday now holds 22,518,748 Ordinary Shares in the Company, representing 4.96% of the enlarged issued share capital.

Following this award, Mr Hardman now holds 20,713,482 Ordinary Shares in the Company, representing 4.57% of the issued share capital.

Application has been made for the admission of 8,333,333 Ordinary Shares to be admitted to trading on AIM. Admission is expected to occur on 2 July 2012.

Share Capital

Pursuant to the issuance of the Ordinary Shares in connection with the Placing, to First Columbus LLC and to the vendors of GOWIT, the Company will have 453,678,073 Ordinary Shares in issue.

SocialGO plc
Dominic Wheatley, Chairman Neil Goodall, CEO	Tel: [phone] www.socialgoplc.com

Deloitte LLP
Oliver Rigby / Jon Hinton	Tel: [phone]
First Columbus
Chris Crawford / Kelly Gardiner	Tel: [phone]
	www.first-columbus.com

Hill + Knowlton
Rebecca Ribbans / Mark Walsh	Tel: [phone]
	www.hillandknowlton.co.uk

About SocialGO

SocialGO Plc is a developer and provider of software and related services that allows customers to build their own online social presence, SocialGO™.  SocialGO's platform allows customers to quickly and easily create, manage and control their social media presence and provides the members of these websites with the ability to communicate and share with like minded people in a controlled and secure environment.  SocialGO derives its revenues from subscription premiums paid by website owners and from selling value added services which allows website owners to maximise the social media experience and the revenues that can derive from creating and managing a social media presence.  SocialGO is part of the burgeoning Silicon Roundabout in London, UK.

www.socialgo.com

 

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