Volex issues Deferred Consideration for Murat Ticaret deal

Investing.com -- Volex plc (LON:VLX ) in a stock exchange filing on Friday said that Murat Ticaret has exceeded the EBITDA targets specified under the terms of the acquisition agreement for the initial 12 months following the completion of the transaction.

As a result of meeting these targets, the first tranche of deferred consideration is now payable to four former owners of Murat Ticaret. 

In accordance with the deal agreement, the consideration will be done through a combination of cash and equity. 

Specifically, €10 million will be paid in cash, while 2,878,830 new ordinary shares of 25 pence each in the capital of Volex will be issued.

The company further said that it has applied to the London Stock Exchange (LON:LSEG ) for the New Shares to be admitted to trading on AIM. 

Admission is expected to become effective, and dealings in the New Shares are anticipated to commence at 8:00 a.m. on 8 January 2025.

Following this admission, the total issued share capital of Volex will consist of 184,529,938 ordinary shares, each with one vote. 

Volex added that it does not hold any shares in the treasury. This total figure will serve as the denominator for shareholders calculating their interests in the company's share capital, including any changes to their holdings.

Source: Investing.com