24th Jul 2015 06:59
LONDON (Alliance News) - Optimal Payments PLC said Friday it has entered into an amended agreement over its acquisition of TK Global Partners LP to increase the total number of its shares to be issued to the sellers and some other parties to 12.8 million from 8.95 million.
Optimal Payments acquired the company, known as Meritus, in July last year. The amendment of the deal was agreed after the dilutive hit on the value of the consideration shares caused by Optimal Payment's three-for-five rights issue in March.
The company also has altered the dates for the issuance of the tranches of consideration shares and the reference price for determining whether or not the recipients are entitled to additional consideration to GBP2.75 from GBP3.93. This means an additional consideration would be payable in cash or shares if Optimal's share price falls below GBP2.20.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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