Cohort PLC MCL acquisition final instalment paid (6377O)
August 22 2017 - 4:24AM
UK Regulatory
TIDMCHRT
RNS Number : 6377O
Cohort PLC
22 August 2017
22 August 2017
Cohort plc
("Cohort")
MCL acquisition final instalment paid
Cohort, the independent technology group, confirms that, further
to the statement in the final results released on 29 June 2017, it
has paid a final instalment of GBP2.5m to MCL's former shareholders
under the terms of the acquisition agreement dated July 2014. This
amount includes GBP0.6m as a final performance-based value
adjustment, and just over GBP1.9m as the former shareholders' share
of the surplus cash in the business as at 30 April 2017. The
payment was funded from Cohort's existing financial resources.
Ends
For further information, please contact:
Cohort plc 0118 909 0390
Andy Thomis, Chief Executive
Simon Walther, Finance
Director
Investec Bank Plc 020 7597 5970
Keith Anderson / Daniel
Adams
MHP Communications Limited 020 3128 8100
Reg Hoare / Ollie Hoare
NOTES TO EDITORS
Cohort is the parent company of four innovative, agile and
responsive businesses based in the UK and Portugal, providing a
wide range of services and products for domestic and export
customers in defence and related markets.
MASS is a specialist defence and technology business, focused on
electronic warfare, information systems and cyber security.
www.mass.co.uk
MCL is an expert in the sourcing, design, integration and
support of communications and surveillance technology for the
defence and security markets.
www.marlboroughcomms.com
SEA is an advanced electronic systems and software house
operating in the defence, transport and offshore energy
markets.
www.sea.co.uk
EID designs and manufactures advanced communications systems for
the defence and security markets.
www.eid.pt
This information is provided by RNS
The company news service from the London Stock Exchange
END
ACQZMGZRRZMGNZG
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