8th Sep 2015 09:02
LONDON (Alliance News) - Optimal Payments PLC on Tuesday said it has allotted 145,384 shares to a seller of FANS Entertainment Inc, the Montreal-based mobile platform developer acquired for USD13 million in May.
Optimal said at the time of the acquisition that it would be paying the seller by issuing shares in one of its subsidiaries. The sellers were then made able to exchange those shares for equity in Optimal Payments itself over three years. A portion of the exchange depends on financial performance criteria, with the total number of shares issued amounting to 3.2 million.
The latest share exchange, which follows from the listing of 303,097 shares in June, means 2.7 million shares are yet to be exchanged.
Shares in Optimal Payments were up 2.1% at 310.75 pence on Tuesday morning.
By Samuel Agini; [email protected]; @samuelagini
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