By Iain Gilbert
Date: Tuesday 08 Sep 2020
LONDON (ShareCast) - (Sharecast News) - Technology-enabled services group Panoply Holdings acquired healthcare-focused digital transformation consultancy Difrent on Tuesday for an initial consideration of £8.8m.
Panoply will pay £4.0m in cash for the Newcastle-based company, funded through an extension of the firm's existing revolving facility with HSBC, with a further £4.8m to be satisfied via the issue of ordinary shares in the group to Difrent's current owners.
The AIM-listed group stated the acquisition would be profitable and immediately earnings enhancing, with Difrent most recently reporting full-year underlying earnings of £900,000 on revenues of £7.4m.
Chief executive Neal Gandhi said: "This acquisition is immediately earnings-enhancing for the group, and clear evidence of our continued momentum against our three-year commercial vision.
"As a disruptive, purposeful and forward-thinking company, the Difrent acquisition perfectly complements our strategy of acquiring best-in-class in companies who share the values and deep sense of purpose that runs through the group."
As of 0930 BST, Panoply shares were down 0.77% at 129.0p.
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Currency | UK Pounds |
Share Price | 32.50p |
Change Today | 0.000p |
% Change | 0.00 % |
52 Week High | 44.00p |
52 Week Low | 31.00p |
Volume | 2,381,646 |
Shares Issued | 92.16m |
Market Cap | £29.95m |
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Latest | Previous | |
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Interim | Final | |
Ex-Div | 19-Jan-23 | 06-Oct-22 |
Paid | 27-Jan-23 | 14-Oct-22 |
Amount | 0.30p | 0.60p |
Time | Volume / Share Price |
15:03 | 1,180,022 @ 31.00p |
15:03 | 1,180,022 @ 31.00p |
12:32 | 1 @ 32.50p |
12:00 | 3 @ 32.50p |
10:26 | 15,580 @ 31.00p |
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