1pm completes acquisition of Positive Cashflow Finance
Source - SMW
1pm has confirmed that it has completed the acquisition of Positive Cashflow Finance, the factoring and invoice financing provider, for £9m.
The Company said this will be satisfied by the payment of £4.3m in cash on completion, a further £2.2m in 5% loan notes redeemable in quarterly payments over the 13 calendar quarters following completion of the Acquisition, commencing on 30 September 2017 and up to £2.5m in new ordinary shares at 60p per share based on a three year earn-out, conditional on achieving certain financial performance targets.
At 2:24pm: (LON:OPM) 1pm PLC share price was 0p at 40.25p