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Bids, Mergers and Takeovers

1pm completes acquisition of Positive Cashflow Finance

29 June 2017 14:24

1pm has confirmed that it has completed the acquisition of Positive Cashflow Finance, the factoring and invoice financing provider, for £9m.

The Company said this will be satisfied by the payment of £4.3m in cash on completion, a further £2.2m in 5% loan notes redeemable in quarterly payments over the 13 calendar quarters following completion of the Acquisition, commencing on 30 September 2017 and up to £2.5m in new ordinary shares at 60p per share based on a three year earn-out, conditional on achieving certain financial performance targets.

At 2:24pm: (LON:OPM) 1pm PLC share price was 0p at 40.25p

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