30th Dec 2013 18:31
LONDON (Alliance News) - Vipera PLC Monday said it has acquired a 51% interest in AC&D Srl and is to raise GBP514,500 through a share subscription.
The mobile financial software services company said it bought the 51% shareholding in AC&D for an initial consideration of GBP956,250, paid for by the issuance of 19.1 million shares in Vipera at a price of 5 pence per share.
The company also said it is expected that there will be a further payment of GBP318,750 through the issuance of a further 6.4 million shares at a price of 5 pence per share during 2014, and Vipera will make a further announcement regarding this extra payment in due course.
AC&D is a senior level software consultancy company which in the year ending December 31 2012 posted a pretax profit of EUR92,000 and in the nine months to September 30 2013, made revenues totalling EUR3.1 million.
Vipera separately said that in a subscription arranged by the company, applications to subscribe have been received for 10.3 million new shares in Vipera at a price of 5 pence per share to raise GBP514,500 before expenses.
The company said that strong interest in investing in the company has been received from other investors and pursuant to the outcome of discussions being held, a further announcement regarding this will be made soon.
Vipera shares were down 4% at 7.08 pence Monday.
By Tom McIvor; [email protected]; @TomMcIvor1
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