14th Dec 2015 09:29
LONDON (Alliance News) - PHSC PLC said on Monday it has acquired anti-theft products and merchandising company SG Systems UK Ltd and closed circuit television company Camerascan CCTV Ltd.
The consultancy and security services company paid GBP275,000 in cash initially for SG Systems, along with the issue of 100,000 new shares in PHSC. It will make a further cash payment of GBP200,000 on the first anniversary of the acquisition. A final payment is a nominal GBP75,000, capped between GBP25,000 and GBP375,000 based on SG's performance on the second anniversary.
For Camerascan, PHSC will pay GBP75,000 in cash on completion, along with the issue of 300,000 shares. It will pay a further GBP50,000 in cash before the end of March next year.
Shares in PHSC were untraded Monday morning at 22.00 pence.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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