Business
Final Edgewater Associates consideration paid
Final Edgewater Associates consideration paid.
About this update from Manx Financial Group Plc
[{"type":"text","content":"\n \nRNS Number : 8059W Manx Financial Group PLC 02 January 2014 \n \n\nFOR IMMEDIATE RELEASE Date: 2nd January 2014\n \n \nManx Financial Group PLC (the 'Company')\n \nFinal Deferred Consideration for Edgewater Associates Limited paid in full\n \n \nOn 2nd August 2010, Manx Financial Group PLC announced the acquisition of Edgewater Associates Limited (\"Edgewater\") and provided details of a deferred consideration element, payable to the Vendors on the signing of Edgewater's accounts for the financial years ending 31st December 2010, 2011 and 2012. As disclosed, the deferred consideration in respect of the financial years ending 31st December 2010 and 2011 has already been paid. \n \nThe last deferred element payable on approval of the accounts for the financial year ending 31st December 2012 was originally expected to be £159,000 in cash and £175,000 payable in Consideration Shares. Following agreement with the Vendors, a total amount of £334,000 has been paid in cash in full and final settlement of the Company's obligations under the agreement and no Consideration Shares have been issued to the Vendors. \n \n\n\n\n\n \nFor further information, please contact:\n\n\n\n\n\nManx Financial Group PLC\nDenham Eke\nTel +44 (0) 1624 694694\n\n\n\n\n\nBeaumont Cornish Limited\nRoland Cornish/Felicity Geidt\nTel +44 (0) 20 7628 3396 \n\n\n\n\n\nBritton Financial PR\nTim Blackstone\nTel +44 (0) 7957 140416\n\n\n\n\n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END MSCELLFBZFFBBBZ\n ","length":3743,"tagName":"div"}]