Beeks Financial Cloud issues 111,800 shares pursuant to exercise of options under Employee Share Option Plan

Maria Nikolova

The new shares are set to be admitted to trading on AIM on July 4, 2019.

Cloud computing and connectivity provider for financial markets Beeks Financial Cloud Group PLC (LON:BKS) today announces it has issued a total of 111,800 new ordinary shares of 0.125 pence each, pursuant to the exercise of options granted under the Beeks Financial Cloud Employee Share Option Plan.

The new shares will rank pari passu with the company’s existing ordinary shares. Application has been made for the new shares to be admitted to trading on AIM and dealings are expected to commence on July 4, 2019. Following the admission, Beeks will have 50,864,800 ordinary shares of 0.125 pence each in issue.

In the meantime, Beeks continues to expand its portfolio of datacentre locations. In May this year, the company announced it was deploying in the NY5 New York datacentre of global interconnection and data centre provider Equinix. On top of this, Beeks has extended its current rackspace in Equinix’s LD4 datacentre in London by taking a third cage. With presence in a total of eleven datacentres currently, this move enables Beeks to continue to increase its offering to customers, supplying the opportunity for further connectivity options to financial exchanges from the new location.

Also in May, Beeks announced the acquisition of the assets of Commercial Network Services (CNS), a US-based online services provider, for a total consideration of up to $1.4 million.

Under the terms of the deal, $1.3 million will be settled in cash on completion, with $0.1 million held as retention subject to satisfactory completion of warranties. The initial consideration and the contingent consideration will be financed out of Beeks’s existing cash balance and banking facilities.

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