News

Daisy has announced its intention to be listed on the Alternative Investment Market (AIM).

The company will reverse into the publicly listed business Freedom4 Group PLC, who at the same time will acquire Vialtus Solutions (formerly Pipex Business), a company that provides a range of managed IP hosting and connectivity solutions to more than 5,000 customers.

Under AIM rules this deal represents what is called a ‘Reverse Takeover’ and is subject to shareholder approval.

The newly combined business Daisy Group PLC will be a strong player in the UK telecoms market and will have more than 40,000 customers. It will be a leading provider of integrated voice and data services to the small-medium business market and customers will have access to a combined product set including access, hosting, voice, managed services and mobile telephony, all from a single customer service and billing platform.

Daisy Group PLC will be headed by Matthew Riley who is Chief Executive Officer, and current chairman Ian McKenzie will also join the new Board as a non executive director.

This process is scheduled to complete on 21 July 2009, following which shares in Daisy can be bought and sold on the stock market.