Issue of Equity
KRM22 plc has allotted 46,729 new ordinary shares, representing 0.1% of its issued share capital, to partially settle deferred consideration for the acquisition of Object+, conserving cash within the Group. The issue price for these shares was £0.85 per share. Following this allotment, US$340k in deferred consideration remains outstanding, with the option for the vendor to request full settlement via new ordinary shares. The new shares will be admitted to trading on AIM on 14 November 2025, bringing the total number of ordinary shares in issue to 59,316,219.
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KRM22 plc, (AIM: KRM) the technology and software investment company that focuses on risk management for capital markets, announces that, to satisfy a partial payment of deferred consideration payable with respect to the acquisition of Object+, as announced on 30 May 2019, it has allotted 46,729 new ordinary shares of 10 pence each in the Company ("Ordinary Shares"), representing 0.1% of issued share capital.
As previously announced, the acquisition agreement allowed the deferred consideration payable thereunder to be settled in cash or by an allotment of shares in the Company at £0.85 per Ordinary Share being the value weighted average closing price for the 60 consecutive trading days prior to completion of the acquisition in 2019. The Company has elected to satisfy the partial payment of deferred consideration by way of issuing new Ordinary Shares so as to conserve cash within the Group.
The Company confirms that a total of US$340k deferred consideration remains outstanding to the vendor of Object+ following the above forementioned payment through the issue of new Ordinary Shares. The terms of the earn out remain the same such that if the Company elects to pay out under the terms of the deferred consideration then 30 per cent. has to be satisfied in cash to satisfy the vendors personal tax liabilities. However, if the vendor makes the request, payment can be entirely satisfied by the issue of new Ordinary Shares.
Application has been made for the new Ordinary Shares to be admitted to trading on AIM and dealings are expected to commence on 14 November 2025.
The new Ordinary Shares will rank pari passu with the Company's existing Ordinary Shares. The total number of Ordinary Shares in issue following Admission will be 59,316,219. The Company does not hold any shares in treasury. Accordingly, the figure of 59,316,219 may be used by shareholders 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 Company under the FCA's Disclosure Guidance and Transparency Rules.
See more about KRM22 at KRM22.com
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.