IN BRIEF: MHA completes GBP7.4 million Moore Stephens purchase

MHA PLC - Milton Keynes-based provider of audit, tax, accountancy and advisory services - Competes the acquisition of audit practice Moore Stephens LLC and tax and consulting services firm Moore Stephens Consulting LLC, known as MS UAE. This transaction was announced back in December. Says the total payable consideration for Dubai-based MS UAE is AED36.0 million, about GBP7.4 million. Adds it is making an initial payment of AED30.0 million, comprising 50% cash and 50% via the issue of 2.0 million new shares to the vendors at 154.5 pence per share. Says the remaining balance will be settled following agreement of completion accounts in cash and new ordinary shares in line with the acquisition agreement.

Current stock price: 128.05 pence, down 0.4% on Tuesday in London

12-month change: up 25%

By Christopher Ward, Alliance News reporter

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