Pelatro PLC Proposed Secondary Placing of Existing Shares (5036V)
09 Abril 2019 - 1:00AM
UK Regulatory
TIDMPTRO
RNS Number : 5036V
Pelatro PLC
09 April 2019
Pelatro Plc
("Pelatro", the "Company" or the "Group")
Proposed Secondary Placing of Ordinary Shares in Pelatro
Pelatro Plc (AIM: PTRO), the global Multichannel Marketing Hub
software specialist, announces that it has been advised by Suresh
Yezhuvath, a significant shareholder of the Company (the "Seller"),
that he intends to sell approximately 2,280,000 ordinary shares of
2.5 pence each in the Company ("Ordinary Shares"), at a price of 80
pence per share (the "Placing Shares"). The Placing Shares
represent approximately 7.0 per cent. of the voting rights of
Pelatro (the "Secondary Placing").
The proceeds of the sale by Mr. Yezhuvath will be used to fund
his charitable work outside of the Company. Following the sale, Mr.
Yezhuvath will hold 14,613 Ordinary Shares representing 0.04 per
cent. of the Company's issued share capital.
Suresh is the brother of the Company's CEO and founder Subash
Menon and also Sudeesh Yezhuvath, Executive Director of the
Company. Suresh has no operational role in the Group, nor is he
employed by the Company, and since the founding of the Company in
2013, he has been a passive shareholder.
In addition, Subash Menon and Sudeesh Yezhuvath and their
related parties have committed not to dispose of any shares in the
Company for a period of at least 12 months.
A further announcement will be made shortly.
For further information contact:
Pelatro Plc
Subash Menon, Managing Director & CEO c/o Walbrook PR
Nic Hellyer, Finance Director
finnCap Limited (Nominated Adviser and
Broker) +44 (0)20 7220 0500
Carl Holmes/Kate Bannatyne/Matthew Radley
Walbrook PR Advisors +44 (0)20 7933 8780
Paul Cornelius/Nick Rome
The information communicated in this announcement contains
inside information for the purposes of Article 7 of the Market
Abuse Regulation (EU) No. 596/2014.
Notes to editors
The Pelatro Group was founded in March 2013 by Subash Menon and
Sudeesh Yezhuvath with the objective of offering specialised,
enterprise class software solutions for customer engagement
principally to telcos who face a series of challenges including
market maturity, saturation and customer churn.
Pelatro provides its "mViva" platform for use by customers in
B2C applications, and is well positioned in the Multichannel
Marketing Hub space (MMH) - this is technology that orchestrates a
customer's communications and offers to customer segments across
multiple channels to include websites, social media, apps, SMS,
USSD and others.
For more information about Pelatro, visit www.pelatro.com
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END
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April 09, 2019 02:00 ET (06:00 GMT)
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