7th Oct 2015 15:13
LONDON (Alliance News) - Horizon Discovery Group PLC Wednesday said that it has issued 576,730 shares to the former stockholders of Sage Labs Inc as a deferred consideration for its acquisition of the company.
The company agreed to buy Sage Labs for up to USD48 million in cash and shares in September of last year. It paid USD16 million in cash, ad said it would issue up to USD32 million in shares for the remainder of the consideration.
Shares in Horizon Discovery were up 1.3% at 151.00 pence Wednesday afternoon.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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