3rd Aug 2023 09:41
JTC PLC - Jersey-based provider of institutional and private client services - Completes acquisition of TC3 Group Holdings LLC, which trades at South Dakota Trust Co. South Dakota Trust is a South Dakota, US-based personal trust sector-focused administration services provider.
JTC announced the acquisition back in June for a maximum consideration of USD270 million. JTC said at the time that the acquisition would be satisfied by an initial consideration of USD147 million in cash, followed by a maximum of USD53 million in new JTC shares. The company on Thursday makes an application for 6.0 million shares to be admitted as part of this initial consideration.
Current stock price: 697.00 pence, up 0.7% on Thursday morning
12-month change: down 8.2%
By Heather Rydings, Alliance News senior economics reporter
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