Business
Correction re: Acquisition of Injecta Fire Barrier
Correction re: Acquisition of Injecta Fire Barrier.
About this update from Light Science Technologies Holdings Plc
[{"type":"text","content":"\n\n \nThe following corrects the Acquisition of Injecta Fire Barrier trade and assets\nannouncement released on 21 November 2023 at 07.00 under RNS No. 0543U, in which the link for the short video was incorrect. The correct link is https://injectafirebarrier.com/ , which has also been added to the text below. There are no changes to the remainder of the text.\n \nLight Science Technologies Holdings plc\n(\"LSTH\", the \"Company\" or the \"Group\")\n \nAcquisition of Injecta Fire Barrier trade and assets\n \nEarnings enhancing acquisition of a cash-generative, high-margin and scalable trade; underpinning wider investment opportunities for the Group\n \nLight Science Technologies Holdings plc (AIM: LST), the controlled environment agriculture (\"CEA\") technology and contract electronics manufacturing (\"CEM\") group, is pleased to announce that it has entered into an asset purchase agreement (\"APA\") with Fire Barrier International Ltd (\"FBIL\"), to acquire its Injecta Fire Barrier trade and assets (\"IFB\") (the \"Acquisition\"). The APA is structured with the consideration being a deferred profit share agreement, with no initial or fixed outlays and the Acquisition is expected to be near term cash generative for the Group.\n \nHighlights\n· Earnings enhancing acquisition\n· Synergies with existing Group's maintenance and installation operations\n· Strong sales pipeline and initial order book\n· High demand sector with significant levels of committed government funding\n \nIFB, which has a proven track record in the passive fire protection market and a strong sales pipeline in place, has an agreement with Injectaclad Ltd to retrofit its industry disrupting fire resistant graphite barrier system (\"Injectaclad\"), targeting a UK market that is potentially worth up to £50 billion*.\n \nAs a high-margin, cash-generative trade, it is expected to strengthen the wider Group's balance sheet and investment opportunities.\n \nThere are a number of synergies with the Group's existing operations - especially within the CEM division, which has long standing relationships within the fire protection market, providing technology and equipment for the fire safety sector for over 10 years. IFB will also advantage from...