ENABLES IT GROUP PLC: First Day of Trading
26 November 2012
Enables IT Group PLC ("Enables" or "the Company") (formerly Nexus Management Plc) Acquisition of Enables IT Limited and readmission to trading on AIM Further to the announcement made on 30 October 2012, the Company is pleased to announce the readmission of its enlarged issued share capital to trading on AIM following completion of the acquisition of Enables IT Limited for £4.25 million consideration, which has been satisfied by the issue of 11,798,475 consideration shares. The acquisition constitutes a reverse takeover under the AIM Rules. The legal name of the Company has been changed to Enables IT Group PLC with immediate effect and dealings in the enlarged issued share capital will commence at 8.00am today with ticker EIT. On admission, the Company will have 15,842,425 ordinary shares admitted to trading on AIM. Enables operates in the IT Managed Services sector and is focused on growing its business through both organic and acquisitive growth. Further information on Enables and its business is set out below. Board Changes Marcus Hanke has today resigned from the board and Martin Bradburn has been appointed to the board as Chief Information Officer. Brief details of Martin Bradburn are set out below: Martin Bradburn (Chief Information Officer), aged 42, has worked within the IT services industry for over 20 years. In that time Martin has continued to apply his technological expertise whilst developing his commercial experience. In 1995 Martin joined Hartshead Education Services and was instrumental in creating and building an IT services business within the company. He was responsible for the day to day management of the IT services division. In 1997 the parent company, Hartshead Solway, was acquired by Capita Group plc. As a result Martin was seconded to Capita-SIMS to provide direction on national projects. Two years after the acquisition Martin joined ANS Group, taking management control of the technical support and delivery elements of the business. In August 2000 ANS Group floated on the Ofex (Plus) market and grew substantially under the control of the management team. In 2004 Martin was appointed to the board of the company as Chief Technical Officer. Martin joined Enables in 2009 and is a minority shareholder in the Company. Further information relating to Mr Bradburn, as required under schedule 2 of the AIM Rules for Companies, is set out below in the section entitled "Additional Information". Merchant Securities Limited acted as Nominated Adviser. FURTHER ENQUIRIES Enables IT Group PLC Tel: +44 (0)778 976 6242
M Barney Battles
Merchant Securities Ltd (Nomad) Tel: +44 (0)20 7628 2200
Simon Clements / Virginia Bull
Peterhouse Corporate Finance (Broker) Tel: +44 (0)20 7469 0937
Bishopsgate Communications Ltd Tel: +44 (0)20 7562 3350
Nick Rome / Sam Allen / Matt Low
Copies of the AIM Admission Document are available on the Company's website (www.enablesit.co.uk).
Background information on Enables
Enables is a private company limited by shares which was incorporated in England and Wales on 9 December 1991. The company was previously named Network Cabling Installations Limited and NCI (UK) Ltd. The company provides network and IT solutions and is led by Michael Walliss, who joined the company in 1992 and was appointed as Managing Director in 1996. Enables provides technical solutions to business problems and offers on-going support services. Enables partners with industry vendors and provides its customers with solutions that are tailored to their needs, with no vendor tie-in.
Enables's customers are focused in the health, education and corporate sectors across the United Kingdom. Enables conducts thorough audits prior to commencing work in order to clearly understand its customers' existing IT infrastructure and limitations. Enables's 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 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 offers a complete end-to-end service in the following key areas:
* Virtualisation and Cloud;
* Wireless & Networks; and * Managed Support. Additional information Under Schedule 2, paragraph (g) of the AIM Rules, the following information is disclosed: Directorships held by Mr Bradburn in the past five years other than Enables IT Limited: Directorships Director Current Directorships/ Past Partnerships Directorships/Partnerships
Martin Bradburn Glass Ceiling Limited ANS Group PLC
Mr Bradburn has confirmed there is no additional information under schedule 2, paragraph (g) of the AIM rules which needs to be disclosed.
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