18th Jun 2018 10:53
LONDON (Alliance News) - Mobile applications distribution firm appScatter Group PLC said Monday it was continuing to work towards completion of its proposed GBP13.5 million acquisition of Priori Data GmbH despite the long-stop date passing.
The sale and purchase agreement had a long-stop date of last Friday. This had been extended from the initial mid-May completion date expectation.
Whilst acknowledging the date had passed, appScatter said the firms "continue to work constructively towards the completion of an acquisition" and believes an agreement in the "near future" remains "achievable and mutually beneficial."
In early April, appScatter agreed to buy the app intelligence firm through GBP9.5 million in cash and GBP4.1 million in shares at 70.00 pence each. Shares in appScatter were 2.4% higher at 58.35 pence on Monday, having fallen 30% since the start of April.
Related Shares:
APPS.L