Focus Solutions set to issue new shares

WARWICKSHIRE financial software supplier Focus Solutions, which is at the centre of a £42m acquisition by Standard Life, has applied to the London Stock Exchange to issue more than 20,000 new shares.

The company, listed on AIM, said it was issuing 20,186 new shares, each with a 10p value and which would be identical to existing shares.

The shares have been issued pursuant to the exercise of 20,186 options by four employees. Admission is expected to become effective on December 20.

The issue brings to 30,056095 the number of shares being traded on the market.

A full offer document detailing the proposals outlined by Standard Life for the acquisition of the Leamington Spa firm has been sent to shareholders.

Shareholders have until 1pm on December 31 to accept the offer.

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