Nightcap PLC - London-based bar operator - Says acquired Adventure Bar Group has achieved the financial milestones required in order for all of the earn out consideration shares to be issued. Given the strong performance of the Adventure Bar Group since its acquisition, this has occurred on a significantly faster timeline than originally expected by the board, it says. Nightcap expects to issue 7.1 million earn-out consideration shares in early July.
‘Board is very pleased with the performance of the Adventure Bar Group over the last 11 months since being part of the Group and, as such, the Board continues to be confident of the positive impact that the Adventure Bar Group will have on the Group for the remainder of the current financial year and beyond,’ it says.
Current stock price: 18.75 pence
12-month change: down 41%
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