REG - Cohort PLC - MCL acquisition final instalment paid <Origin Href="QuoteRef">CHRT.L</Origin>

CohortAnnouncement

22/08/2017 09:25

RNS Number : 6377O
Cohort PLC
22 August 2017
22 August 2017
Cohort plc
("Cohort")
MCL acquisition final instalment paid
Cohort, the independent technology group, confirms that, further to the statement in the final results released on 29 June 2017, it has paid a final instalment of 2.5m to MCL's former shareholders under the terms of the acquisition agreement dated July 2014. This amount includes 0.6m as a final performance-based value adjustment, and just over 1.9m as the former shareholders' share of the surplus cash in the business as at 30 April 2017. The payment was funded from Cohort's existing financial resources. 
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For further information, please contact:


Cohort plc
0118 909 0390
Andy Thomis, Chief Executive

Simon Walther, Finance Director



Investec Bank Plc
020 7597 5970
Keith Anderson / Daniel Adams



MHP Communications Limited
020 3128 8100
Reg Hoare / Ollie Hoare

NOTES TO EDITORS
Cohort is the parent company of four innovative, agile and responsive businesses based in the UK and Portugal, providing a wide range of services and products for domestic and export customers in defence and related markets.
MASS is a specialist defence and technology business, focused on electronic warfare, information systems and cyber security.
www.mass.co.uk
MCL is an expert in the sourcing, design, integration and support of communications and surveillance technology for the defence and security markets.
www.marlboroughcomms.com
SEA is an advanced electronic systems and software house operating in the defence, transport and offshore energy markets.
www.sea.co.uk
EID designs and manufactures advanced communications systems for the defence and security markets.
www.eid.pt

This information is provided by RNS
The company news service from the London Stock Exchange
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