REG - Likewise Group PLC - Settlement of Contingent Consideration

LikewiseAnnouncement

17/01/2024 07:00

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RNS Number : 9117Z  Likewise Group PLC  17 January 2024

 

17 January 2024

Likewise Group plc

("Likewise", the "Company" or the "Group")

Settlement of Contingent Consideration

Likewise Group plc (AIM:LIKE), the fast growing and progressive Flooring
Distributor, announces that the contingent consideration of £3,855,000 has
been paid in full from current cash resources to the vendors of Valley
Wholesale Carpets (2004) Limited ("Valley") under the terms of the Share
Purchase Agreement announced on 15 December 2021.

No further payments are owed to the vendors of Valley.

 

Tony Brewer, Chief Executive of Likewise, said:

 

"Valley has been an excellent acquisition with the quality of Assets acquired
plus the positive impact to Group profitability and operating cash flow. We
thank the Management and Staff for their contribution in maintaining Valley as
an autonomous business.

 

Whilst very early in the year, trading has commenced positively, and the
Likewise Group is extremely well positioned to accelerate growth during 2024."

 

 For further information, please contact:
 Likewise Group plc                                                   Tel: +44 (0) 121 817 2900

 Tony Brewer, Chief Executive
 Zeus (Nominated Adviser and Joint Broker)                            Tel: +44 (0) 20 3829 5000

 Jordan Warburton / David Foreman / James Edis (Investment Banking)

 Dominic King (Corporate Broking)
 WH Ireland (Joint Broker)                                            Tel: +44 (0) 20 7220 1666

 Hugh Morgan / Antonio Bossi (Corporate Finance)

 Fraser Marshall / Harry Ansell (Corporate Broking)
 Ravenscroft (Joint Broker)                                           Tel: +44 (0) 1481 732 746

 Semelia Hamon (Corporate Finance)
 Novella Communications (Financial PR)                                Tel: +44 (0) 20 3151 7008

 Claire de Groot / Tim Robertson

 

ENDS

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