Analyst Research

Report Title Price
Provider: Wright Reports
Provider: Thomson Reuters Stock Report
Provider: Reuters Investment Profile
Provider: Peel Hunt

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Miton Group PLC Announces Acquisition of PSigma Asset Management Holdings Ltd And Placing

Tuesday, 2 Jul 2013 02:01am EDT 

Miton Group PLC announced the acquisition of the entire issued share capital of PSigma Asset Management Holdings Limited, a placing of ordinary shares in the share capital of the Company and an update on current trading. PSigma Asset Management Holdings Limited is a wholly owned subsidiary of Punter Southall Group Limited. The Acquisition of PSigma from Punter Southall Group Limited is expected to complete on July 3, 2013. The initial consideration of GBP6.75 million is payable on completion in a mixture of cash and Ordinary Shares. The maximum consideration of GBP13 million becomes payable if PSigma's assets under management are greater than GBP700 million on June 30, 2015. The Company also announced that on behalf of the Company, Peel Hunt LLP has conditionally raised approximately GBP2.3 million (before expenses) by the issue of 7,470,000 Ordinary Shares. The Placing Shares represent nearly 5% of the issued share capital of the Company as at the date hereof, which is within the existing authorities to allot shares free of pre-emption rights. The Placing is underwritten by Peel Hunt. Peel Hunt has conditionally placed the Placing Shares with investors at a price of GBP0.31 per share. Admission of the shares is expected to take place on July 5, 2013. 

Company Quote

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11 Jul 2014