REG - Equals Group PLC - Completion of Roqqett acquisition

EqualsAnnouncement

09/01/2023 07:00

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RNS Number : 0151M  Equals Group PLC  09 January 2023

 For immediate release  9 January 2023

 

 

Equals Group plc

('Equals', the 'Group' or the 'Company')

 

Completion of Roqqett acquisition

 

Equals Group plc (AIM:EQLS), a leading fintech payments group focused on the
SME marketplace, is pleased to announce that further to the announcement
issued on 28 November 2022 and having now received regulatory approval from
the Financial Conduct Authority, the acquisition of Roqqett Limited
('Roqqett') has now completed.

 

The initial £1.0 million cash payment has been fully satisfied from Equals'
existing cash resources and this will be followed by three deferred payments,
one of up to £0.25 million satisfied in cash (when Roqqett receives the
benefit of R&D tax credits) and two of £0.5 million, one in cash and the
other satisfied by the issue of ordinary shares in Equals, struck at the
five-day volume-weighted average price of 87.23p as of Friday, 25 November
2022. The second and third deferred payments become due when certain
capabilities are added to the platform and are expected to be paid in under
one year.

 

The acquisition of Roqqett is expected to be earnings accretive for the Group
in the medium term and will allow Equals to widen the addressable markets for
its services as well as driving growth.

 

- Ends -

 

For more information, please contact:

 

 Equals Group plc
 Ian Strafford-Taylor, CEO                                Tel: +44 (0) 20 7778 9308

 Richard Cooper, CFO                                      www.equalsplc.com (http://www.equalsplc.com)

 Canaccord Genuity (Nominated Adviser / Broker)
 Max Hartley / Harry Rees                                 Tel: +44 (0) 20 7523 8150

 Buchanan (Financial Communications)
 Henry Harrison-Topham / Toto Berger                      Tel: +44 (0) 20 7466 5000

 equals@buchanan.uk.com (mailto:equals@buchanan.uk.com)   www.buchanan.uk.com

 

Notes to Editors:

 

Equals Group is a technology-led international payments group augmented by
highly personalised service for the payment needs of SME's whether these be
FX, card payments or via Faster Payments. Founded in 2007, the Group listed on
AIM in 2014 and currently employs around 285 staff across sites in London and
Chester.  For more information, please visit www.equalsplc.com
(http://www.equalsplc.com) .

 

 

 

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