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Chime Communications PLC Acquires 93% Stake in Complete Leisure Group Limited

Thursday, 31 Jan 2013 07:00am EST 

Chime Communications PLC (Chime) announced with regard to entering into an option agreement with Lord Coe whereby on exercise of the option it would acquire Lord Coe's 93% interest in Complete Leisure Group Limited (CLG), that option has been exercised and the acquisition has been completed. On completion Chime paid an initial GBP 1.96 million in cash (an increase from the GBP 1.5 million referred to in the announcement dated October 26, 2012 reflecting the level of net assets on closing). In addition deferred consideration capped at GBP 10.2 million is payable over the period to March 2017 on the achievement of various financial targets. 

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1.75 +0.60%
8:39am EDT