8th Dec 2015 17:31
LONDON (Alliance News) - Next Fifteen Communications Group PLC Tuesday confirmed it was in advanced negotiations to acquire a small UK-based digital agency for an initial cash consideration of GBP3.8 million, as it noted a recent rise in its share price.
Shares in Next Fifteen closed up 7.6% at 273.30 pence.
The company said that it intends to fund the acquisition through a placing of shares representing up to 5% of its issued share capital, with the remainder of the net proceeds to be allocated by Next Fifteen to fund other acquisitions and investment opportunities in the near term.
The company added that it continues to trade in line with its expectations.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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