RS2 plc - Changes in Shareholding Structure

On 10 October, RS2 Software plc issued two announcements explaining changes in its shareholding structure.

In the first announcement, RS2 revealed that it was informed by Mario Schembri, currently the Chairman of RS2, that his shareholding in the Company has fallen below the 5% threshold to 1,754,194 shares, representing 4.13% of the issued share capital.

In the other announcement, RS2 announced that Barclays Bank plc acquired 4,250,000 shares in RS2 equivalent to 10% of the issued share capital from ITM (Information Technology Management) Holding Ltd after all the conditions in the share purchase agreement between these two parties were all satisfied. This included changes to the Memorandum and Articles of Association of RS2 which were approved by shareholders during an Extraordinary General Meeting held on 2 October and the appointment of a member of Barclays on the Board of RS2.

Furthermore, given that the share purchase agreement is now complete, Barclays Bank plc no longer has the right to terminate the GBP8.5 million licence agreement.