Equals Group PLC - London-based payments services for small and medium enterprises - Completes the purchase of the remaining minority interests in Equals Connect Ltd for a potential total consideration of up to GBP3.43 million. The full consideration is being funded through its existing cash resources.
In November 2019, Equals said it has purchased Casco Financial Services Ltd for an initial cash consideration of GBP1.7 million, with a potential addition of GBP2.0 million, depending on future performance.
It also retained a 48% economic interest in Casco's Infrastructure Services Business, the white-label business which was then renamed Equals Connect with the transaction.
Current stock price: 91.74 pence on Monday
12-month change: up 44%
By Abby Amoakuh; abbyamoakuh@alliancenews.com
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Equals Gp (EQLS)