RE: Ban misinformation9 Nov 2021 14:06
It-is bonus payments if targets hit 950,000 per year for two years source Rns
Under the terms of the acquisition, £10.1 million in cash will be paid upfront by the Company for the entire issued share capital of IT-IS and for the business assets of IT-IS Life Science (Ireland) Limited. The initial consideration of £10.1 million will be reduced by £3.6 million of cash on the balance sheet of IT-IS at completion resulting in net cash consideration of £6.5 million. In addition, an earn out of up to £1.9 million in cash is payable to the directors of IT-IS over the next two years, subject to certain manufacturing targets being achieved.
Therefore in real terms if they hit targets 8.4 million total pay out.
Question within that how does the 2.6 million net assets stack? Does that mean in real terms we paid less or was the 2.6 mil included in the 3.6 mil cash? Tks In advance.