Deferred Consideration
30 April 2008 - 8:02PM
UK Regulatory
RNS Number:4213T
Absolute Capital Mgmt Holdings Ltd
30 April 2008
Absolute Capital Management Holdings Limited
("ACMH")
Deferred Consideration
Following the acquisition of TCA Group, announced on 20 June 2006, ACMH
announces that it has now agreed details of revised earn-out and deferred
consideration arrangements in connection with the acquisition. TCA is a Cayman
Islands company formed to provide capital introduction services and investor
relations services primarily to absolute return focused managers.
The sale and purchase agreement relating to TCA provided for total consideration
comprised of (i) the issue of 2,500,000 shares in ACMH on the closing of the
transaction (worth #4,075,000 based on the closing price of an ACMH share on 19
June 2006), (ii) up to 1,500,000 shares in ACMH based on a target EBITDA of TCA
of Euro3.5 million for the year ended 31 December 2006, (iii) up to 1,500,000
shares in ACMH based on a target EBITDA of TCA of Euro5.5 million for the year
ended 31 December 2007, (iv) the issue on the third anniversary of the
acquisition of such number of shares in ACMH as equates to a value of Euro2
million and (v) the issue on the fourth anniversary of the acquisition of such
number of shares in ACMH as equates to a value of Euro0.5 million.
Under an agreement with the vendors of TCA entered into today, ACMH will issue
3,500,000 ACMH shares (the "Consideration Shares") and make payment of Euro100,000
in cash to the vendors of TCA in satisfaction of all earn-out and deferred
consideration obligations, set out at (ii) to (v) above, under the acquisition
agreement.
Application has been made to the London Stock Exchange for the Consideration
Shares, which will rank pari passu with existing shares in issue, to be
admitted to trading on AIM. Admission is expected to become effective on 7 May
2008.
Enquiries:
Absolute Capital Management Holdings Limited +41 41 560 9660
Jonathan Treacher
Panmure Gordon 020 7459 3600
Dominic Morley
Cardew Group
Tim Robertson 020 7930 0777
Shan Shan Willenbrock
David Roach
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCFKKKNCBKKOQN
Absolute Capital (LSE:ACMH)
Historical Stock Chart
From Jun 2024 to Jul 2024
Absolute Capital (LSE:ACMH)
Historical Stock Chart
From Jul 2023 to Jul 2024
Real-Time news about Acmh Ltd (London Stock Exchange): 0 recent articles
More Absolute Capital Man News Articles