Journeo agrees to acquire IGL for £8.7 million
December 2022
Journeo PLC has entered into a conditional agreement to acquire the entire issued share capital of IGL Limited for an aggregate consideration of approximately £8.7 million, which will be financed primarily via a discounted placing, subscription, and a retail offer.
The London-listed information-systems and transport technical-services group will place 6.1 million new ordinary shares at 105 pence a share, representing an 11% discount. Furthermore, there will be a subscription for 523,806 new ordinary shares at the placing price. It will also offer up to 333,333 shares via the Bookbuild platform to raise up to £350,000.
IGL will receive an initial cash consideration of around £6.2 million and £500,000 payable in 476,190 new ordinary shares at the placing price on completion. There will also be a £2 million deferred cash consideration, payable in two tranches.
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The Perivan shareholder communications team was delighted to work with Cenkos Securities on the production of the related documentation, which was successfully produced and published on 22nd December 2022.
Perivan specialise in producing and publishing financial documents relating to shareholder and investor communications for quoted companies, private companies, and open and closed-ended funds.
