AIM Schedule 1 - Nexus Management plc (8344P)
30 Oktober 2012 - 4:21PM
UK Regulatory
TIDMNXS
RNS Number : 8344P
AIM
30 October 2012
ANNOUNCEMENT TO BE MADE BY THE AIM APPLICANT PRIOR TO ADMISSION
IN ACCORDANCE WITH RULE 2 OF THE AIM RULES FOR COMPANIES ("AIM
RULES")
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COMPANY NAME:
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Nexus Management plc, to be renamed Enables IT Group plc (the
"Company")
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COMPANY REGISTERED OFFICE ADDRESS AND IF DIFFERENT, COMPANY
TRADING ADDRESS (INCLUDING POSTCODES) :
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120 Moorgate, London EC2M 6UR
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COUNTRY OF INCORPORATION:
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United Kingdom
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COMPANY WEBSITE ADDRESS CONTAINING ALL INFORMATION REQUIRED
BY AIM RULE 26:
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Currently www.nexusmanagementplc.com (to be changed to, www.enablesit.co.uk)
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COMPANY BUSINESS (INCLUDING MAIN COUNTRY OF OPERATION) OR,
IN THE CASE OF AN INVESTING COMPANY, DETAILS OF ITS INVESTING
POLICY). IF THE ADMISSION IS SOUGHT AS A RESULT OF A REVERSE
TAKE-OVER UNDER RULE 14, THIS SHOULD BE STATED:
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The acquisition of Enables IT Limited by Nexus Management plc
will result in a reverse takeover under the AIM Rules. On completion
of the acquisition and prior to admission to AIM, Nexus Management
will, subject to shareholder approval, change its name to Enables
IT Group plc.
The main country of operation of enlarged group will be the
UK but will also operate in the US.
Nexus Management, previously named PC Medics Group Plc, is
an AIM IT managed services provider specialising in reducing
the cost and complexity of IT for companies. Nexus Management
operates in two key markets: Europe and the US, where it can
offer 24 hour customer support. Nexus Management provides remote
sensor management, wide area network management, disaster recovery,
data storage, and help-desk and desktop support. Nexus Management
is registered in England and Wales and was admitted to trading
on AIM on 8 May 2001 (as PC Medics Group Plc).
Enables IT provides network and IT solutions and is led by
current Managing Director Michael Walliss, who joined the company
in 1992 and was appointed as Managing Director in 1996. Enables
IT provides technical solutions to business problems and offers
on-going support services. Enables IT partners with industry
vendors and provides its customers with solutions that are
tailored to their needs, with no vendor tie-in.
Enables IT's customers are focused in the health, education
and corporate sectors across the United Kingdom. Enables IT
conducts thorough audits prior to commencing work in order
to clearly understand its customers' existing IT infrastructure
and limitations. Enables IT staff communicate with clients
to determine specific needs and use the audit findings, and
the consultants own experience and expertise, to design infrastructures
based on the benefits the clients require. Implementation is
undertaken in partnership with the client to ensure there is
a complete understanding of the solution and technology at
all times by all parties.
Enables IT looks to develop new client relationships whilst
also focusing on its current client portfolio which contains
customers with whom the company has had over 12 years of continuous
engagement.
Enables IT offers a complete end-to-end service in the following
key areas:
-- Virtualisation and Cloud;
-- Wireless & Networks; and
-- Managed Support.
The Directors believe that Nexus Management's existing foothold
in the US markets will offer an ideal opportunity for Enables
IT to cross sell into this substantial and lucrative market.
In addition, the Directors believe that the enlarged group
will benefit from a substantial increase in the critical mass
of the UK business which, with the broader client base, will
de-risk the US focus of the business and will offer further
cross selling opportunities. The added strength to the management
team following completion of the transaction should allow for
increased leverage of the business through both organic and
acquisitive growth.
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DETAILS OF SECURITIES TO BE ADMITTED INCLUDING ANY RESTRICTIONS
AS TO TRANSFER OF THE SECURITIES (i.e. where known, number
and type of shares, nominal value and issue price to which
it seeks admission and the number and type to be held as treasury
shares):
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Admission: 15,842,425 new ordinary shares with a nominal value
of GBP0.01 each
No restrictions on the transfer of securities
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CAPITAL TO BE RAISED ON ADMISSION (IF APPLICABLE) AND ANTICIPATED
MARKET CAPITALISATION ON ADMISSION:
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No capital to be raised.
Anticipated market capitalisation, approximately GBP5.7million
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PERCENTAGE OF AIM SECURITIES NOT IN PUBLIC HANDS AT ADMISSION:
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75.2%
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DETAILS OF ANY OTHER EXCHANGE OR TRADING PLATFORM TO WHICH
THE AIM COMPANY HAS APPLIED OR AGREED TO HAVE ANY OF ITS SECURITIES
(INCLUDING ITS AIM SECURITIES) ADMITTED OR TRADED:
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None
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FULL NAMES AND FUNCTIONS OF DIRECTORS AND PROPOSED DIRECTORS
(underlining the first name by which each is known or including
any other name by which each is known):
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Mark Bernard Barney Battles (Executive Chairman and proposed
Non-Executive Chairman)
Peter John Weller (Finance Director and proposed Chief Financial
Officer)
Michael Dean Walliss (Executive Director and proposed Chief
Executive Officer)
Marcus Yeoman (Non-Executive Director)
Martin Bradburn (proposed Chief Information Officer)
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FULL NAMES AND HOLDINGS OF SIGNIFICANT SHAREHOLDERS EXPRESSED
AS A PERCENTAGE OF THE ISSUED SHARE CAPITAL, BEFORE AND AFTER
ADMISSION (underlining the first name by which each is known
or including any other name by which each is known):
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As at the date of this On Admission
announcement
Number of Percentage Number of Percentage
Existing of existing Ordinary of the Enlarged
Name of Director Ordinary share capital Shares Issued Share
Shares Capital
Roger Richardson 38,787,149**** 3.29 129,290 0.82
Peter Paterson 80,003,763 6.78 266,679 1.69
Graham
Stoddart-Stones 79,884,809*** 6.77 266,282 1.69
SF Webb Smaller
Cos Growth
Fund 226,556,505** 19.20 755,188 4.80
Martin Bradburn - Nil 4,092,619 25.83
Michael Walliss - Nil 7,591,378* 47.92
* of which 3,212,562 are owned by his wife Erica Walliss
** SF Webb Smaller Companies Growth Fund holds its shares through
Bank of New York (Nominees) Limited
*** Graham Stoddart-Stones holds 57,806,992 shares through
Rathbone Trustees
**** Roger Richardson holds 38,666,667 shares through SVS Securities
Nominees
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NAMES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE
2, PARAGRAPH (H) OF THE AIM RULES:
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None
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(i) ANTICIPATED ACCOUNTING REFERENCE DATE
(ii) DATE TO WHICH THE MAIN FINANCIAL INFORMATION IN THE ADMISSION
DOCUMENT HAS BEEN PREPARED (this may be represented by unaudited
interim financial information)
(iii) DATES BY WHICH IT MUST PUBLISH ITS FIRST THREE REPORTS
PURSUANT TO AIM RULES 18 AND 19:
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(i) 30 September
(ii) 30 June 2012
(iii) 31 March 2013 (final results for the year ending 30 September
2012)
30 June 2013 (interim results for the six months ending 31
March 2013)
31 March 2014 (final results for the year ending 30 September
2013)
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EXPECTED ADMISSION DATE:
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26 November 2012
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NAME AND ADDRESS OF NOMINATED ADVISER:
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Merchant Securities Limited, 51-55 Gresham Street, London EC2V
7EL
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NAME AND ADDRESS OF BROKER:
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Peterhouse Corporate Finance Limited, 31 Lombard Street, London
EC2V 7EL
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OTHER THAN IN THE CASE OF A QUOTED APPLICANT, DETAILS OF WHERE
(POSTAL OR INTERNET ADDRESS) THE ADMISSION DOCUMENT WILL BE
AVAILABLE FROM, WITH A STATEMENT THAT THIS WILL CONTAIN FULL
DETAILS ABOUT THE APPLICANT AND THE ADMISSION OF ITS SECURITIES:
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Available from the Company's website www.nexusmanagementplc.com
The admission document contains full details regarding the
applicant and the admission of its securities.
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DATE OF NOTIFICATION:
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30 October 2012
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NEW/ UPDATE:
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NEW
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This information is provided by RNS
The company news service from the London Stock Exchange
END
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