4th May 2018 11:39
LONDON (Alliance News) - appScatter Group PLC on Friday said that it agreed to extend Priori Data GmbH acquisition agreement long stop date to the end of May.
The app distribution and management platform said it no longer expects to finalise the purchase prior to mid-May.
In April, appScatter said it will buy Priori for GBP13.5 million in cash and through share issue. It also announced a GBP15.0 million fundraising to cover the expenses.
The company said it made a good progress with respect to the fundraise, but it seeks the extension of the long stop date to allow "sufficient" time for Her Majesty's Revenue and Customs to advise whether new shares issued under the fundraise are eligible under the enterprise investment scheme.
Shares in appScatter were trading 2.0% higher at 71.40 pence per share on Friday.
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