Merit Group (MRIT)

Sector:

Media

37.50p
   
  • Change Today:
    -1.50p
  • 52 Week High: 88.50
  • 52 Week Low: 37.50
  • Currency: UK Pounds
  • Shares Issued: 23.88m
  • Volume: 2,500
  • Market Cap: £8.96m

Dods raising ?13.2m to part-fund acquisition of Meritgroup

By Josh White

Date: Friday 28 Jun 2019

LONDON (ShareCast) - (Sharecast News) - Dods Group announced a conditional fundraising on Friday, to raise up to £13.2m in a bid to part finance the acquisition of Meritgroup.
The AIM-traded firm had previously announced the "transformational acquisition" of Meritgroup - a provider of data services and software code - for consideration of up to £22.4m.

On Friday, it announced the placing and subscription with new and existing investors to raise £12.2m to part-finance the acquisition, and an open offer to existing qualifying shareholders to raise up to an additional £1m.

The remainder of the consideration would financed through the issue of new shares, bank debt and existing cash resources.

Dods said the acquisition was in line with its growth strategy, as it would increase its depth in existing markets via "data enrichment".

It also claimed that the acquisition was expected to be earnings-enhancing in the first full financial year following completion.

The acquisition and fundraising remained conditional on approval by shareholders, which the board was seeking at a general meeting on 16 July.

"The acquisition of Merit is the first step on our journey to becoming a significant augmented intelligence business where the combination of machine learning, artificial intelligence and human application meet to inform actionable business outcomes," said chairman Dr David Hammond.

"There is a clear strategic fit and industrial logic in purchasing Merit which is a highly skilled, competent and educated business with over 15 years of domain expertise in data engineering."

Dr Hammons said Meritgroup was "at the forefront" of innovation and technology, and had developed "significant" resident knowledge allowing it to help power "some of the world's leading" business intelligence solutions.

"With Dods' 186-year history of content creation and analysis in policy and political markets, the combination of the two companies will mean that customers can now seek answers from a trusted brand operating at scale across a range of global industries."

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Merit Group Market Data

Currency UK Pounds
Share Price 37.50p
Change Today -1.50p
% Change -3.85 %
52 Week High 88.50
52 Week Low 37.50
Volume 2,500
Shares Issued 23.88m
Market Cap £8.96m

Merit Group Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
75.05% above the market average75.05% above the market average75.05% above the market average75.05% above the market average75.05% above the market average
43.48% above the sector average43.48% above the sector average43.48% above the sector average43.48% above the sector average43.48% above the sector average
Price Trend
58.56% below the market average58.56% below the market average58.56% below the market average58.56% below the market average58.56% below the market average
21.74% below the sector average21.74% below the sector average21.74% below the sector average21.74% below the sector average21.74% below the sector average
Income Not Available
Growth
79.82% above the market average79.82% above the market average79.82% above the market average79.82% above the market average79.82% above the market average
76.19% above the sector average76.19% above the sector average76.19% above the sector average76.19% above the sector average76.19% above the sector average

What The Brokers Say

Strong Buy 1
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 1
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Merit Group Dividends

No dividends found

Trades for 01-Nov-2024

Time Volume / Share Price
08:28 2,500 @ 38.00p

Merit Group Key Personnel

CEO Phil Machray

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