Issue of Equity

RNS Number : 2278H

SocialGO plc

18 June 2013

 



18 June 2013

SocialGO Plc

Issue of Equity

On 24 December 2009 SocialGO plc ("SocialGO" or "Company") announced the acquisition of Get On With It Limited ("GOWIT"), which had developed the Company's SocialGO platform.  The consideration for the acquisition was 34,999,999 ordinary shares of 1 penny each in SocialGO ("Ordinary Shares"), with 11,666,667 Ordinary Shares issued immediately and 23,333,332 Ordinary Shares being deferred and issued in four equal tranches.  In light of the ongoing review of the Company's operations it has been agreed that the final tranche of 5,833,333 deferred consideration shares, due to be issued in January 2014, be issued now.

The Company has therefore issued and allotted the third and fourth tranches of deferred shares pursuant to the acquisition of GOWIT and accordingly has applied for 11,666,666 Ordinary Shares to be admitted to trading on AIM with effect from 19 June 2013.

Following admission of these shares to trading on AIM, the Company will have a total of 465,344,739 Ordinary Shares in issue.  Two of the vendors of GOWIT, Stephen Hardman and Alex Halliday, are directors of SocialGO and as a result of this issue their interests in the Company will be as follows:

Stephen Hardman          25,625,762 Ordinary Shares (5.5%)

Alex Halliday                    28,045,064 Ordinary Shares (6.0%)

For further information, please contact:

SocialGO plc      Tel: [phone]

Oliver Cooke, Executive Chairman

Neil Goodall, CEO           

www.socialgoplc.com

Northland Capital Partners Limited         Tel: [phone]

William Vandyk, Matthew Johnson        

 

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