Business
MCL acquisition final instalment paid
MCL acquisition final instalment paid.
About this update from Cohort Plc
[{"type":"text","content":"\n \nRNS Number : 6377O Cohort PLC 22 August 2017 \n\n22 August 2017\nCohort plc\n(\"Cohort\")\n \nMCL acquisition final instalment paid\n \nCohort, the independent technology group, confirms that, further to the statement in the final results released on 29 June 2017, it has paid a final instalment of £2.5m to MCL's former shareholders under the terms of the acquisition agreement dated July 2014. This amount includes £0.6m as a final performance-based value adjustment, and just over £1.9m as the former shareholders' share of the surplus cash in the business as at 30 April 2017. The payment was funded from Cohort's existing financial resources. \n \nEnds\n \nFor further information, please contact:\n\n\n\n\n\n\n\n\n\n\n\n\nCohort plc\n\n\n0118 909 0390\n\n\n\n\nAndy Thomis, Chief Executive\n\n\n\n\n\n\n\nSimon Walther, Finance Director\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nInvestec Bank Plc\n\n\n020 7597 5970\n\n\n\n\nKeith Anderson / Daniel Adams\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nMHP Communications Limited\n\n\n020 3128 8100\n\n\n\n\nReg Hoare / Ollie Hoare\n\n\n\n\n\n\n\n \nNOTES TO EDITORS\nCohort is the parent company of four innovative, agile and responsive businesses based in the UK and Portugal, providing a wide range of services and products for domestic and export customers in defence and related markets.\n \nMASS is a specialist defence and technology business, focused on electronic warfare, information systems and cyber security.\nwww.mass.co.uk\n \nMCL is an expert in the sourcing, design, integration and support of communications and surveillance technology for the defence and security markets.\nwww.marlboroughcomms.com\n \nSEA is an advanced electronic systems and software house operating in the defence, transport and offshore energy markets.\nwww.sea.co.uk\n \nEID designs and manufactures advanced communications systems for the defence and security markets.\nwww.eid.pt\n\nThis information is provided by RNSThe company news service from the London Stock Exchange END ACQZMGZRRZMGNZG\n ","length":5129,"tagName":"div"}]