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Decisive Dividend Corporation Announces Completion of Slimline Acquisition on Settlement of Remaining Contingent Consideration
(via TheNewswire) December 28, 2018 / TheNewswire / Kelowna, British Co...
About this update from Decisive Dividend Corp.
[{"type":"text","content":"Decisive Dividend Corporation Announces Completion of Slimline Acquisition on Settlement of Remaining Contingent Consideration(via TheNewswire)\n \n \nDecember 28, 2018 / TheNewswire / Kelowna, British Columbia: Decisive Dividend Corporation (TSX-V: DE) (the \"Corporation\"), a growth-oriented acquisition company, is pleased to announce that it has settled the remaining contingent consideration in relation to its previously announced acquisition (the \"Slimline Acquisition\") of Slimline Manufacturing Ltd. (\"Slimline\").\n\n \n \nThe Slimline Acquisition closed on May 30, 2018 (the \"Closing Date\") and included contingent consideration in the form of an earn-out payment, based upon the financial performance of Slimline for the twelve-month period ended July 31, 2018. On the Closing Date, the Corporation accrued $1.1 million with respect to the earn-out amount. In accordance with the terms of the share purchase agreement, the earn-out amount was settled at an amount of $690,524, and was satisfied by the cash payment of $591,879 and the issuance of 25,424 common shares of the Corporation (the \"Shares\") to the vendors. The Shares were issued at a value of $3.88 per share, which was the volume weighted average trading price for the ten-trading day period ended May 29, 2018. The Shares, along with the 257,733 common shares of the Corporation that had been issued to the vendors on the Closing Date, will be held in escrow and released in accordance with the terms of the share escrow agreement dated May 30, 2018.\n\n \n \nAbout Decisive Dividend Corporation\n\n \n \nDecisive Dividend Corporation is an acquisition-oriented company, focusing on the manufacturing sector. The Corporation uses a disciplined acquisition strategy to identify already profitable, established companies that have strong management teams, generate steady cash flow, operate in non-cyclical markets, and have opportunity for future growth.\n\n \n \nNeither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of the contents of this News Release.\n\n \n \nFOR FURTHER INFORMATION PLEASE CONTACT:\n\n \n \nRick Torriero, Chief Financial Officer\n\n\n \n#201, 1674 Bertram Street Kelowna, BC V1Y 9G4 Telephone: (250) 870-9146 \n\n \n \nCautionary Statements\n\n \n \nThis pr...