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Redefine International PLC Announces Investment Acquisition-DJ


Monday, 1 Jul 2013 02:00am EDT 

Dow Jones reported that Redefine International PLC announced that it has acquired the remaining minority interests in Newington House Limited, Ciref Malthurst Limited and Trito Kwik-Fit Limited (the Entities) for an aggregate purchase price of GBP1,992,223 (the Acquisition). The purchase price has been settled by the issue of 5,108,290 new Redefine International ordinary shares of 8 pence each in the share capital of the Company (the Consideration Shares) to the minority shareholders of the Entities at a price of 39 pence per Consideration Share. The Consideration Shares represent approximately 0.5 per cent. of the current issued share capital of the Company. Settlement of the purchase price through the issue of the Consideration Shares will enable the Company to retain its existing cash balances for potential future acquisitions. Newington House Limited, a company that owns an office building in Southwark, London, was 76.7% owned by the Company, prior to the Acquisition. Following the Acquisition, the Company will own 100% of the Entities. 

Company Quote

52.05
-0.55 -1.05%
10:44am EDT