16th Jun 2015 17:28
LONDON (Alliance News) - Optimal Payments PLC Tuesday said it has issued 3.2 million shares to FANS Entertainment Inc, which Optimal acquired in May.
Optimal Payments issued 3.2 million shares in the unnamed subsidiary to FANS, with the shares exchangeable on a one-for-one basis to shares in Optimal Payments over three years, with some subject to satisfying certain financial targets.
Optimal Payments struck the deal to acquire FANS in May, in a CAD16 million, paid for via the indirect issuance of Optimal Payments shares.
Optimal shares closed down 0.3% to 259.35 pence per share on Tuesday.
By Joshua Warner; [email protected]; @JoshAlliance
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