Sopheon plc (“Sopheon”), the international provider of software and services that improve the return from innovation and new product development investments, is pleased to announce that at its general meeting held earlier today, the resolution to approve the proposed share consolidation was passed.
Under the share consolidation every 500 existing ordinary shares of 20 pence each will be consolidated into one new ordinary share of £100 each ("New Ordinary Shares"), with any fractional entitlements being sold for the best price reasonably obtainable to any person and the net proceeds of sale distributed to the fraction-holders in due proportion (subject to the retention by the Company of amounts not exceeding £3.00, of which the cost of distribution is expected to exceed the amounts involved).
The rights attaching to the New Ordinary Shares will be identical in all other respects to those of the existing ordinary shares.
Application has been made for the 14,558 New Ordinary Shares to be admitted to trading on AIM and Alternext ("Admission") and dealings are expected to commence at 8.00 a.m. on 14 October 2014 with ISIN GB00BQSBK399. Due to differences in the settlement mechanisms between the Netherlands and the UK, the record date set out in the timetable for shares in the Netherlands is two days later than in the UK. Notwithstanding the foregoing, trading in the New Ordinary Shares will commence on both AIM and Alternext on 14 October 2014.
The timetable is given below:
| UK Record Date for the Share Consolidation | 5.00 p.m. on 13 October 2014 |
| Existing Ordinary Shares disabled in CREST and share register closed | 5.00 p.m. on 13 October 2014 |
| Admission effective and dealings commence in New Ordinary Shares | 8.00 a.m. on 14 October 2014 |
| CREST accounts credited with New Ordinary Shares | 14 October 2014 |
| Netherlands Record Date for Share Consolidation | 15 October 2014 |
| Certificates in respect of New Ordinary Shares dispatched on or before | 25 October 2014 |
| Fractional payments made via CREST, or cheque despatched by | 15 November 2014 |
Following the share consolidation there will be 14,558 New Ordinary Shares in issue. The Company does not hold any shares in treasury. Therefore the total number of shares with voting rights in the Company following Admission will be 14,558. This figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company.
For further information contact:
| Barry Mence, Chairman | Sopheon plc | + 44 (0) 1483 685 735 |
| Arif Karimjee, CFO | Sopheon plc | + 44 (0) 1483 685 735 |
| Charlotte Stranner / Victoria Bates | finnCap | + 44 (0) 20 7220 0500 |
| Heather Armstrong | Newgate Threadneedle | + 44 (0) 20 7653 9842 |
| Claire Verhagen | Citigate First Financial | + 31 (0) 205 754 010 |
About Sopheon
Sopheon (LSE: SPE) partners with customers to provide complete Enterprise Innovation Performance solutions including software, expertise, and best-practices to achieve exceptional long-term revenue growth and profitability. Sopheon’s Accolade® solution provides unique, fully-integrated coverage for the entire innovation management and new product development lifecycle. For the first time, businesses can access a single source of the truth across strategic innovation planning, roadmapping, idea and concept development, process and project management, and portfolio and in-market management. Sopheon’s solutions have been implemented by over 200 customers with over 60,000 users in over 50 countries. Sopheon is listed on the AIM Market of the London Stock Exchange and on the Alternext Exchange in the Netherlands.
