13th Dec 2021 21:25
Anemoi International Ltd - British Virgin Islands-based acquisitions company - Enters conditional agreement for the acquisition of financial software company id4 AG for GBP5.3 million in shares.
Anemoi will issue 66.7 million shares at 4.0 pence each to the sellers of id4, and will also conduct a placing to raise GBP2.2 million through the issue of 54.4 million shares at the same price, which will go towards expanding id4's sale capabilities, as well as product development.
The acquisition will constitute a reverse takeover and once completed Anemoi will apply for the readmission of shares to the London Main Market.
"The company is in a robust financial position with a healthy balance sheet and growing revenues. id4 has substantial IP and a flexible modular, no-code platform, which create strong barriers to entry. Management's significant equity position also fully aligns them with the company's shareholders, and we look forward to capitalising on the substantial opportunities for id4's products and services in the future," says Executive Chair Duncan Soukup.
Current stock price: 4.05 pence
Year-to-date change: up 35%
By Dayo Laniyan; [email protected]
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