Release of Shares from Escrow
Alcidion Group Limited (ASX:ALC) (‘Company’) advises in accordance with Listing Rule 3.10A that the following securities will be released from mandatory escrow on Thursday, 1 March 2018:
• 248,714,874 fully paid ordinary shares;
• 107,827,957 Class A Contingent Share Rights; and
• 110,322,219 Class B Contingent Share Rights.
These securities were classified by ASX as restricted securities for a period of 24 months from the date 29 February 2016. The majority of the shares being released from escrow are held by founders or their related parties. Raymond Blight and Malcolm Pradhan have informed the Company that despite 219,056,883 of their ordinary shares coming out of escrow, they do not have any current intention of disposing of these shares.
In addition to the above, the Company advises that a further 2,458,828 fully paid ordinary shares will be released from voluntary escrow on Thursday, 1 March 2018. These securities have been held in voluntary escrow by Allure Capital in connection with the transaction announced to the ASX on 23 December 2016.
The Company will apply for quotation of the 248,714,874 fully paid ordinary shares released from mandatory escrow within 10 business days after the end of the escrow period as required by Listing Rule 2.8.2.
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