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22 Oct 2018 | 14:07

1pm to pay acquisition costs as Positive Cashflow hits earnings targets

Finance facility supplier 1pm said recently-acquired business Positive Cashflow had successfully achieved its first of its earn-out targets.

The company said it would therefore issue around 1.39m new share in the company at 10p each to the vendors.

This issue was the first of three potential earnout pay-outs based on pre-agreed increases in profit before tax for the years ending 31 May 2018, 2019 and 2020.

1pm acquired Positive Cashflow in June 2017.

'This reflects an excellent performance by Positive Cashflow as part of the 1pm Group,' chief executive Ian Smith said.

'The earnout involved hitting some challenging growth targets and to fully achieve them reflects well on the strength and potential of Positive as a business.'

At 2:07pm: (LON:OPM) 1pm PLC share price was +1.25p at 48.5p

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