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InterQuest Group Plc acquires ECOM Recruitment Limited


Wednesday, 27 Nov 2013 02:00am EST 

InterQuest Group Plc:Says it has acquired ECOM Recruitment Limited (ECOM), UK's digital technology recruitment business for a total consideration of up to 7.04 million pounds.Says it will pay an initial consideration of 3.54 million pounds comprising 3.04 million pounds in cash and 0.5 million pounds by the issue of 558,659 new InterQuest shares issued on completion.Says a further deferred consideration of 2.16 million pounds is payable by way of a loan note with a 3 per cent coupon of which 0.5 million pounds is payable in May 2014 and 1.66 million pounds in Dec. 2014.Says in addition, up to a further 1.34 million pounds subject to an earn-out could be payable in Dec. 2014 if the business achieves 1.34 million pounds of EBIT in the year to Oct 31. 2014.Says the 558,659 new InterQuest shares are being issued to the vendors of ECOM at a price of 89.5 pence per share.Says application will be made to the London Stock Exchange for these shares to be admitted to trading on AIM and it is expected that dealings will commence on Dec. 3, 2013. 

Company Quote

106.0
-1.5 -1.38%
5:33am EDT