(Alliance News) - S4 Capital PLC on Thursday announced it has agreed to issue 661,927 shares, worth GBP3.4 million, as part of its acquisition of German firm Staud Studios.
The London-based digital advertising firm said on Wednesday its MediaMonks content practice will merge with creative production studio Staud, focused on the automotive industry, to formalise the presence of MediaMonks in Germany, the second largest advertising market in Europe.
Shares in S4 Capital were down 1.0% at 515.00 pence in London on Thursday.
At 515p per share price, the shares issued to Staud as initial consideration would be worth GBP3.4 million. The shares are subject to a restriction on sale until January 2023.
S4 expects admission of the shares to be admitted effective Friday this week.
By Zoe Wickens; zoewickens@alliancenews.com; and Anna Farley; annafarley@alliancenews.com
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S4 Cap. (SFOR)
