Likewise Group PLC Settlement of Contingent Consideration (9117Z)
17 January 2024 - 6:00PM
UK Regulatory
TIDMLIKE
RNS Number : 9117Z
Likewise Group PLC
17 January 2024
17 January 2024
Likewise Group plc
("Likewise", the "Company" or the "Group")
Settlement of Contingent Consideration
Likewise Group plc (AIM:LIKE), the fast growing and progressive
Flooring Distributor, announces that the contingent consideration
of GBP3,855,000 has been paid in full from current cash resources
to the vendors of Valley Wholesale Carpets (2004) Limited
("Valley") under the terms of the Share Purchase Agreement
announced on 15 December 2021.
No further payments are owed to the vendors of Valley.
Tony Brewer, Chief Executive of Likewise, said:
"Valley has been an excellent acquisition with the quality of
Assets acquired plus the positive impact to Group profitability and
operating cash flow. We thank the Management and Staff for their
contribution in maintaining Valley as an autonomous business.
Whilst very early in the year, trading has commenced positively,
and the Likewise Group is extremely well positioned to accelerate
growth during 2024."
For further information, please contact:
Likewise Group plc Tel: +44 (0) 121
Tony Brewer, Chief Executive 817 2900
Zeus (Nominated Adviser and Joint Broker) Tel: +44 (0) 20
Jordan Warburton / David Foreman / James Edis 3829 5000
(Investment Banking)
Dominic King (Corporate Broking)
WH Ireland (Joint Broker) Tel: +44 (0) 20
Hugh Morgan / Antonio Bossi (Corporate Finance) 7220 1666
Fraser Marshall / Harry Ansell (Corporate
Broking)
Ravenscroft (Joint Broker) Tel: +44 (0) 1481
Semelia Hamon (Corporate Finance) 732 746
Novella Communications (Financial PR) Tel: +44 (0) 20
Claire de Groot / Tim Robertson 3151 7008
ENDS
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END
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