(Correcting that Aferian is based in Cambridge.)
Aferian PLC - Cambridge, England-based media technology company - Acquires the remaining 8% minority interest in 24i Unit Media BV and its subsidiaries. The amount due to the founders of 24i is EUR3.3 million, which is the same price paid per share as for the 92% shareholding acquired in July 2019. It is anticipated that the company will pay cash of EUR1.0 million, with the remaining EUR2.3 million to be settled through the issue of shares.
Separately, the company reports double digit growth in both revenue and annual recurring revenue for the six months to May 31, up 19% to USD45.3 million and up 37% to USD13.8 million, respectively. Pretax profit tripled to USD1.5 million from USD500,000 year-on-year. Aferian declares dividend of 1.0 pence a share.
Current stock price: 151.00p
Year-to-date change: up 26%
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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