Volex PLC Deferred Consideration for Servatron Acquisition (7129E)
02 Marzo 2020 - 1:47PM
UK Regulatory
TIDMVLX
RNS Number : 7129E
Volex PLC
02 March 2020
2 March 2020
Volex plc
("Volex" or the "Company")
Deferred Consideration for Servatron Acquisition
Further to the announcement dated 30 July 2019 regarding the
acquisition of Servatron, Inc ("Servatron"), Volex is pleased to
confirm that Servatron has exceeded the operating profit targets
set under the acquisition agreement for the year ended 31 December
2019.
As a result, the first tranche of deferred consideration is now
due to the former owners, and current employees, of Servatron,
comprising:
-- 1,481,239 Volex Ordinary Shares of 25 pence
-- $1,728,112 in cash
In addition, under the share incentive scheme agreed as part of
the acquisition, 469,084 Volex Ordinary Shares of 25 pence are due
to those senior employees who have elected to receive their award
in shares rather than the cash equivalent.
The Volex board has therefore approved the issue of 1,950,323
new Ordinary Shares of 25 pence each. An application will be made
to the London Stock Exchange for the admission of the shares to
trading on AIM. Admission is expected to take place on 6 March 2020
("Admission").
Following the issue of the shares, the issued share capital of
the Company will comprise 151,818,762 Ordinary Shares of 25 pence,
each with one voting right. There are no ordinary shares held in
treasury. Therefore, following Admission, this figure of
151,818,762 may be used by shareholders in the Company as the
denominator for the calculations by which they will determine if
they are required to notify their interest in, or a change to their
interest in, the share capital of the Company.
Enquiries
For further information please contact:
+44 7909 995
Volex plc 887
Nat Rothschild, Executive Chairman
Daren Morris, Chief Financial Officer and Company
Secretary
N+1 Singer - Nominated Adviser & Joint Broker +44 20 7496 3000
Shaun Dobson
Iqra Amin
Whitman Howard - Joint Broker +44 20 7659 1234
Hugh Rich
Nick Lovering
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
FURUPUACWUPUGPP
(END) Dow Jones Newswires
March 02, 2020 07:47 ET (12:47 GMT)
Grafico Azioni Volex (LSE:VLX)
Storico
Da Apr 2024 a Mag 2024
Grafico Azioni Volex (LSE:VLX)
Storico
Da Mag 2023 a Mag 2024