4th Nov 2013 09:47
LONDON (Alliance News) - APC Technology Group PLC Monday said it will buy out the remaining minority shareholders in Minimise Energy Ltd for GBP385,000, valuing the whole unit at GBP3.85 million.
The company owns 90% of the business and will buy-out minorities holding the other 10%.
"This acquisition completes a lengthy restructuring process and results in a simplified Group structure that, we feel, provides the platform for continued growth," APC Tech Chief Executive Mark Robinson said in a statement.
It said recent orders and indications from a number of new customers over the last couple of months make it think Minimise will "make a positive contribution" in the current financial year.
APC technology shares were up 1.3% at 58.1 pence Monday morning.
By Steve McGrath; [email protected]; @SteveMcGrath1
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