RNS /Sale15 Jul 2025 07:38
Good morning all, So the deal is done as we thought it would be today.
As for Firepower1, Please see this bit below high-lighting the reduced debt which will take place even though you so certain they would not be paying down any debt from this sale.
Net upfront proceeds2 received on closing were $364m (£273m1) and will be used to reduce the Group's debt (including various leasing obligations). In addition, there is a $70m earn out arrangement contingent on School Bus achieving certain revenue, EBITDA and free cash flow related targets.
Now with luck the SP might go up to 40p.