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Iomart Group PLC Announces Acquisition of Redstation Limited


Thursday, 5 Sep 2013 02:00am EDT 

Iomart Group PLC announced that it has acquired the entire issued share capital of Redstation on a cash-free/debt-free basis with normalised working capital. Initial consideration of GBP6.6 million has been paid, of which GBP5.1 million has been paid in cash and GBP1.5 million satisfied by the issue of 515,464 new ordinary shares. A further contingent consideration of up to GBP1.5m is potentially payable in cash subject to Redstation achieving certain profit targets in the period to end March 2014. 

Company Quote

232.25
6.625 +2.94%
12:15pm EDT