5th Feb 2016 10:03
LONDON (Alliance News) - Porta Communications PLC said Friday it has issued the remaining 1.76 million in shares owed as a deferred consideration for its acquisition of Redleaf Communications after the conditions of the deferred consideration were satisfied.
Porta bought a 51% stake in the London-based financial PR firm for GBP1.8 million back in April 2014, paid in cash and shares. These 1.76 million shares were the final remaining shares owed in relation to that initial 51% stake acquisition.
Shares in Porta Communications were down 1.9% at 7.23 pence Friday morning.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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