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Halliwell Landau advises Axiom - 10/2000

Axiom reverses into AIM

Halliwell Landau has advised Axiom Internet Group Limited, the Manchester-based producer of psychometric personality test software, on its reversal into the Harrogate Group plc, a company whose shares are traded on the Alternative Investment Market.

The shareholders of the Harrogate Group plc have agreed to the acquisition of the entire issued share capital of Axiom for a consideration of 6.9 million, to be satisfied by the issue of 276 million ordinary shares. The Harrogate Group plc also proposes to raise approximately 2million of working capital (less costs), for the enlarged group by placing 80 million ordinary shares at 2.5p per share, subject to an open offer of 23.25 million ordinary shares to qualifying shareholders.