RE: Average down19 Feb 2020 19:39
On 21 October 2019, the Group acquired the entire share capital of CloudCoCo Limited ("CloudCoCo"). CloudCoCo is a cloud, IT hardware, and IT services company that commenced trading in 2018 and has seen impressive growth in that short period. The consideration for the acquisition was satisfied through the issue of 218,160,586 ordinary shares in the Company which represents approximately 49.0% of the enlarged share capital. The shares were issued at the mid-market closing price of 3.3 pence, representing a total value of £7.2 million on completion.