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Acal PLC Announces Proposed Acquisition of Myrra Group And Proposed Placing Of Approximately GBP6.1 Million


Friday, 8 Mar 2013 02:05am EST 

Acal PLC announced that it has entered into a conditional agreement to acquire the Myrra Group through the acquisition of its holding company, Aramys SAS, for an up-front cash consideration of EUR9.5 million (GBP8.3 million). A further future payment of up to a maximum of EUR1.8 million (GBP1.6 million) will be payable in March 2016 subject to the Myrra Group's performance over the three year period to December 31, 2015 following Completion. Funding will be provided through a combination of a new debt facility of GPB8.0 million and a cash placing of approximately GBP6.1 million (before expenses) predominantly from existing Shareholders. Any remaining net proceeds will be used for working capital purposes and for any future acquisitions which meet the Company's strict criteria. 

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