Business
Completion of the Acquisition of CDMS Limited
Completion of the Acquisition of CDMS Limited.
About this update from Gb Group Plc
[{"type":"text","content":"\n \nRNS Number : 8988V GB Group PLC 03 November 2014 \n \n\n \n \n\n\n\n\nEmbargoed until 7.00 a.m.\n\n\n3 November 2014\n\n\n\n\n \nGB GROUP PLC\n(\"GBGroup\" or \"GBG\" or the \"Company\")\n \nCompletion of the Acquisition of CDMS Limited (trading as \"Transactis\")\n \nFurther to the announcement made on 13 October 2014, GBGroup, the identity intelligence specialist, is pleased to announce that it has completed the acquisition of Transactis for a total consideration of up to £6 million.\n \nThe initial consideration was satisfied by a cash payment of £4.5 million from the Group's existing cash reserves and £0.5 million of shares in GBG. A further £1.0m of consideration in shares will be deferred for a period of 12 months following completion, contingent on certain performance conditions being met.\n \nRichard Law, Chief Executive Officer of GB Group, commented: \n \n\"Transactis has made a considerable investment over the last few years to create a strong technology platform and attracted some excellent customers in both the public and private sectors. This acquisition will add a valuable data asset which can be deployed in our existing software products and further strengthens GBG's identity intelligence credentials.\"\n \nShare Capital\nApplication has been made for 343,284 new ordinary shares of 2.5p each in the share capital of the Company (\"Ordinary Shares\") to be issued as part of the initial consideration for Transactis to be admitted to trading on AIM (\"Admission\") and dealings are expected to commence on 4th November 2014. The new Ordinary Shares will rank pari passu with the Company's existing Ordinary Shares.\n \nThe total number of Ordinary Shares in issue following Admission will be 120,641,364. Accordingly, the figure of 120,641,364 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company under the FCA's Disclosure and Transparency Rules.\n \n \n\n\n\n\nGB Group plc\nRichard Law, Chief Executive\nDave Wilson, Group Finance Director & Operations Director\n\n\n01244 657333\n\n\n\n\n \nPeel Hunt LLP (Nominated Adviser and Broker)\nRichard Kauffer\nElliot Thomas \n\n\n \n0...