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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Thruvision Group plc    DGB   GB00B627R876

THRUVISION GROUP PLC

(DGB)
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Proposed disposal: Increased Shareholder Support

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10/12/2017 | 03:10am EDT

12 October 2017

Digital Barriers plc

Proposed disposal of Video Business

Increased Shareholder support

Digital Barriers plc (AIM: DGB) ('Digital Barriers', the 'Company' or, together with its subsidiary undertakings, the 'Group'), the specialist provider of visually intelligent technologies to the global surveillance, security and safety markets, announced on 9 October 2017 that it has conditionally agreed to sell the entire issued share capital of the Existing Group's Video Business to Volpi for a maximum aggregate consideration of up to £27.5 million in cash (the 'Disposal').

A circular (the 'Circular') containing, amongst other things, further details of the proposed Disposal and the notice of the General Meeting to be held at the offices of Osborne Clarke LLP, One London Wall, London EC2Y 5EB at 10.00 a.m. on 26 October 2017 was also posted to shareholders on 9 October 2017.

Defined terms used in the Circular have the same meanings in this announcement, save where the context provides otherwise.

Since the posting of the Circular, further commitments to vote in favour of the Resolution to approve the Disposal at the General Meeting have been received by the Company from Shareholders such that the updated position to that described in the Circular is as follows:

The following Shareholders have given irrevocable undertakings to vote in favour of the Resolution to approve the Disposal:

· the Independent Directors in respect of their beneficial holdings amounting, in aggregate, to 11,222,677 Ordinary Shares, representing approximately 6.8 per cent. of the existing issued share capital of the Company;

· Quantum Partners LP in respect of 8,121,686 Ordinary Shares held or managed by it, representing 4.9 per cent. of the existing issued share capital of the Company;

· Henderson Global Investors Limited in respect of 8,684,489 Ordinary Shares held or managed by it, representing 5.3 per cent. of the existing issued share capital of the Company; and

· Herald Investment Management Limited in respect of 15,329,712 Ordinary Shares held or managed by it, representing 9.3 per cent. of the existing issued share capital of the Company.

The following Shareholders have given letters of intent to vote in favour of the Resolution to approve the Disposal:

· Schroders Investment Management Limited in respect of 33,115,609 Ordinary Shares held or managed by it, representing 20.1 per cent. of the existing issued share capital of the Company;

· Invesco Asset Management Limited in respect of 8,502,010 Ordinary Shares held or managed by it, representing 5.2 per cent. of the existing issued share capital of the Company; and

· Lombard Odier Asset Management (Europe) Limited and Lombard Asset Management (USA) Corp in respect of, in aggregate, 13,849,978 Ordinary Shares held or managed by it, representing 8.4 per cent. of the existing issued share capital of the Company.

Therefore, in total, the Company has received irrevocable undertakings and letters of intent to vote in favour of the Resolution to approve the Disposal from Shareholders holding in aggregate 98,826,161 Ordinary Shares, representing 59.8 per cent. of the existing issued share capital of the Company.

For further information please contact:

Digital Barriers plc

Tom Black, Non-Executive Chairman

Colin Evans, Chief Operating Officer

+44 (0)20 3553 5888

Investec Bank plc (Financial Adviser, NOMAD & Broker)

Andrew Pinder / Sebastian Lawrence / Patrick Robb

+44 (0)20 7597 5970

FTI Consulting LLP

Edward Bridges / Matt Dixon / Harry Staight

+44 (0)20 3727 1000

About Digital Barriers:

Digital Barriers provides visually intelligent solutions to the global surveillance, security and safety markets. We deliver zero-latency streaming and analysis of secure video and related intelligence over wireless networks, including cellular, satellite, IP mesh and cloud, utilising significantly less bandwidth than standard technologies.

Our rapidly-installed fixed and mobile solutions for covert, remote and wide-area deployments, as well as vehicle and body-worn applications, have been sold into more than fifty countries, and have been proven in some of the world's most demanding operational environments. We also provide advanced video content analysis and body scanning to identify safety concerns and threats in real-time.www.digitalbarriers.com

Digital Barriers plc published this content on 12 October 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 12 October 2017 06:09:05 UTC.


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Sales 2021 9,40 M 12,2 M 12,2 M
Net income 2021 -2,10 M -2,73 M -2,73 M
Net cash 2021 5,50 M 7,16 M 7,16 M
P/E ratio 2021 -27,6x
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Capitalization 38,1 M 49,6 M 49,6 M
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EV / Sales 2022 2,97x
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Free-Float 82,9%
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NameTitle
Colin Michael Evans Managing Director & Executive Director
Thomas Joseph Black Executive Chairman
Adrian Graham Crockett Director & Finance Director
Paul Ronald Taylor Independent Non-Executive Director
John Andrew Woollhead Secretary
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