30 Mar 2012 16:25
30 March 2012 Hogg Robinson Group plc ("HRG", the "Company" or the "Group")
Completion of acquisition of the outstanding minority interests in Spendvision Holdings Limited
HRG is pleased to announce that the acquisition of the outstanding minority interests in Spendvision Holdings Limited (the "Acquisition") has now been completed.
Under the terms of the Acquisition, the aggregate consideration has been satisfied by the payment of £8,464,000 in cash from the Group's existing resources and the allotment and issue of new shares of 1p each in the Company ("Shares") to the value of £4,976,000.
As noted in HRG's announcement earlier today, application has been made to the United Kingdom Listing Authority and the London Stock Exchange for 8,188,252 Shares to be admitted to listing on the premium segment of the Official List and to trading on the Main Market of the London Stock Exchange. It is expected that the Shares will be admitted and trading will commence on 2 April 2012. The Shares rank pari passu with the Company's existing issued ordinary shares.
Enquiries:
Hogg Robinson Group +44 (0)1256 312600 Keith Burgess, Company Secretary Angus Prentice, Head of Investor Relations Tulchan Communications +44 (0)20 7353 4200 Stephen Malthouse Martin Robinson Canaccord Genuity +44 (0)20 7523 8350 Mark Dickenson Nick Stamp
Canaccord Genuity Limited, which is regulated in the United Kingdom by the Financial Services Authority, is acting as adviser to Hogg Robinson Group plc in relation to the Proposed Acquisition and is not acting for any other person and will not be responsible to any other person for providing the protections afforded to clients of Canaccord Genuity Limited or for providing advice in relation to the Proposed Acquisition or any other arrangements referred to herein.
Notes to EditorsAbout HRG
Hogg Robinson Group plc (HRG) is the award-winning international corporate services company. Established in 1845 and headquartered in Basingstoke, Hampshire, UK. HRG specialises in travel, expense and data management underpinned by proprietary technology solutions and products. With a worldwide network that comprises over 120 countries, HRG provides unparalleled local knowledge and global expertise in North America, Europe, Asia Pacific, Africa, Latin America and MEWA.
www.hrgworldwide.com
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