Note 22 - Share Capital

12 Months Ended

Mar. 31, 2018

Statement Line Items [Line Items]

Disclosure of issued capital [text block]

22 SHARE CAPITAL

	AS OF MARCH 31, 2018 $000’s		AS OF MARCH 31, 2017 $000’s
Issued and fully paid
77,535,770 ordinary shares of 10 pence each (2017: 49,509,394 ordinary shares of 1 pence each)		12,641		8,667

The Company has

one

class of ordinary share which carry

no

right to fixed income.

On

September 25, 2017

the Company completed a share consolidation following a resolution duly passed at the Company’s Shareholders General Meeting (the “

General Meeting

”). The share consolidation was effected to bring the number of ordinary shares in issue in line with comparable London Stock Exchange listed companies. The

495,667,540

ordinary shares of

£0.01

per share (the “

Original Shares

”) were consolidated and divided into

49,566,754

new ordinary shares of

£0.10

each (the “

Consolidated Shares

”). The Consolidated Shares have the same rights and are subject to the same restrictions (same as to par value) as the Original Shares.

In the event that the number of Original Shares attributable to a shareholder was

not

exactly divisible by

10,

the consolidation generated an entitlement to a fraction of a Consolidated Share and the Company, pursuant to its articles of association (as amended at the General Meeting), sold the Consolidated Shares representing the fractions on behalf of the selling shareholder for the best price reasonably obtained to any person (including the Company) and distribute the proceeds of sale, in due proportion, among those selling shareholders. In the event that the net proceeds of the sale attributable to a selling shareholder amounted to

£5.00

or less, the Company’s board of directors was of the view that, as a result of the disproportionate costs involved in distributing small sums to shareholders, it would

not

be in the best interests of the Company to distribute such proceeds of sale, which instead were retained for the benefit of the Company.

The number of shares subject to all outstanding options and restricted stock units have been consolidated on the same

10:1

basis, except where the consolidation resulted in rights to acquire fractional Consolidated Shares, the Consolidated Shares were rounded down to the nearest whole Consolidated Share. In the case of options, the per share exercise price payable by option holders on exercise of an option was multiplied by

10

so that the total exercise price payable by each option holder to acquire Consolidated Shares is the same as what the total exercise price payable by each option holder would have been to acquire Original Shares.

During the current year

28,026,376

shares were issued, of which

26,048,596

shares related to the acquisition of YuMe,

1,660,569

shares related to the acquisition of RadiumOne,

255,633

shares related to the exercise of employee share options and

61,578

related to the issuance of restricted stock units (

2017:

9,063,107

shares were issued, of which

8,823,541

shares related to the acquisition of Perk,

158,830

shares related to exercise of employee share options and

80,736

shares related to restricted stock units).