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Alliance News

Porta Communications Increases Stake In Newgate Australia (ALLISS)

Fri, 4th Aug 2017 14:31

LONDON (Alliance News) - Porta Communications PLC on Friday said it has increased its stake in Newgate Communications Pty Ltd, known as Newgate Australia, to 62.29%.

Porta has had a right to acquire a further 4.4% in Newgate Australia in 2017 and each of the subsequent four years. It will pay a consideration for each additional share in Newgate Australia through the issue of new shares in Porta.

Porta increased its stake to 62.29% from 57.86% for a consideration of GBP277,375, to be satisfied through the issue of 8.1 million shares at a price of 3.428 pence each.

Shares in Porta were flat at 3.74p Friday.

By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews

Copyright 2017 Alliance News Limited. All Rights Reserved.

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