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Innovation Group PLC Acquisition of InFront Minority And Issue Of shares


Monday, 19 Nov 2012 02:00am EST 

Innovation Group PLC announced its acquisition of the 16% minority interest in the Group's subsidiary, InFront Solutions Limited (InFront), for GBP2.2 million. As a result of this transaction, InFront will become a wholly-owned subsidiary of Innovation Group. The consideration is to be satisfied by the issue of 10,519,172 new Ordinary shares of 2p each. Application has been made to the Financial Services Authority and the London Stock Exchange for admission of the Shares. The Shares will rank pari passu with the Company's existing shares in issue. Completion of the acquisition will occur when the Shares are admitted to trading, which is expected occur at 8.00 a.m. on November 21, 2012. 

Company Quote

32.5
-0.25 -0.76%
22 Jul 2014