29th Jun 2021 17:20
CEPS PLC - Bath, England-based investment company focussed on the industrial sector - Notes subsidiary Hickton Group Ltd has completed GBP433,800 fundraise, in order to retain its working capital headroom while having sufficient funds to pay the deferred consideration of GBP299,999, as well as the maximum earnout consideration of GBP100,000 which is likely to become payable to the vendors of Millington Lord Ltd by September 22, following its acquisition by Hickton in March. CEPS notes its equity holding in Hickton falls to 52.4% from 54.7% following fundraise. It adds: "The board of HGL has been encouraged by the first few months of trading by MLL under its ownership, and with the GBP100,000 additional performance-related element of the consideration for MLL anticipated to be paid when due in September, the additional equity funding now secured is expected to restore working capital headroom."
Current stock price: 38.50 pence
Year-to-date change: up 51%
By Lucy Heming;Â [email protected]
Copyright 2021 Alliance News Limited. All Rights Reserved.
Related Shares:
Ceps