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On 25 September 2024, iomart Group plc confirmed it is in exclusive talks regarding the possible acquisition of Kookaburra Topco Limited, the holding company of Atech Support Limited. The Company stated that if the possible acquisition proceeds, it would be financed from existing cash resources and banking facilities and classified as a Substantial Transaction under the AIM Rules for Companies.
| Date | 25 Sept 2024 |
| Time | 16:01:12 |
| Category | Corporate updates |
| ID | 6767F |
25 September 2024
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
iomart Group plc
("iomart" or the "Group" or the "Company")
Statement re press speculation
The Board of iomart notes the recent press speculation and confirms that the Company is in exclusive talks with regard to the possible acquisition of Kookaburra Topco Limited ("Kookaburra"), the holding company of Atech Support Limited ("Atech"), a leading, highly accredited Microsoft Solutions Partner, delivering complex, multi-platform solutions, public cloud digital transformation and specialised managed security services to mid-sized enterprises (the "Possible Acquisition").
There is no guarantee that the Possible Acquisition will proceed, however, if it were to proceed, it would be financed from the Company's existing cash resources and banking facilities and be classified as a Substantial Transaction under the AIM Rules for Companies.
The Directors of iomart believe that the Possible Acquisition of Atech would accelerate iomart's growth strategy, positioning the enlarged group as the leading provider of secure public, private and hybrid cloud services to mid-sized enterprises in the UK.
Further announcements will be made as and when appropriate.
This announcement contains inside information for the purposes of assimilated Regulation (EU) No.596/2014, as it forms part the laws of the United Kingdom by virtue of the European Union (Withdrawal) Act 2018 (as amended). The person responsible for releasing this announcement on behalf of the Company is Scott Cunningham, CFO.
For further information please contact:
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iomart Group plc |
Tel: 0141 931 6400 |
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Lucy Dimes, Chief Executive Officer |
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Scott Cunningham, Chief Financial Officer |
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Investec Bank PLC (Nominated Adviser and Broker) |
Tel: 020 7597 4000 |
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Patrick Robb, Virginia Bull |
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Alma Strategic Communications |
Tel: 020 3405 0205 |
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Caroline Forde, Hilary Buchanan, Kinvara Verdon |
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About iomart Group plc
iomart Group plc (AIM: IOM) is a cloud computing and IT managed services business providing hybrid cloud infrastructure, data management, protection and cyber security services, and digital workplace capability. Our mission is simple: to make our customers unstoppable by enabling them to connect, secure and scale anywhere, anytime. From our portfolio of data centres we own and operate across the UK to connected sites around the world, our 500-strong team can design and deploy the right cloud solution for our customers.