REG - MHA PLC - Completion of Acquisition

MHAAnnouncement

Tue 07:00

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RNS Number : 3330Z  MHA PLC  07 April 2026

MHA plc

("MHA", the "Company" and together with its subsidiaries the "Group")

 

Completion of Acquisition

 

MHA (AIM: MHA), a leading professional services provider of audit and
assurance, tax, accountancy and advisory services, is pleased to announce the
completion of the acquisition of Moore Stephens LLC, an audit practice, and
Moore Stephens Consulting LLC, a tax and consulting services firm (together
"MS UAE").

 

On 22 December 2025, the Company announced that it had entered into an
agreement to acquire MS UAE, a well-established professional services business
providing audit, tax and advisory services across the UAE. The acquisition is
consistent with the Group's strategy of pursuing selective cross-border
opportunities that enhance the Group's international presence.

 

Total consideration payable is AED 36.0 million (approximately £7.4 m) on a
cash-free, debt-free basis with a normalised level of working capital, subject
to net cash and working capital adjustments.

 

Pursuant to completion, an initial payment of AED 30.0 million is being made,
comprising 50 percent in cash approximately and 50 percent through the issue
of 1,993,581 new ordinary shares in the Company to the vendors (the
"Completion Consideration Shares") at a price of 154.5 pence per share.

 

The final balance payment, reflecting the net cash and working capital
adjustments, will be settled following agreement of completion accounts in
cash and new ordinary shares in accordance with the acquisition agreement. A
further announcement will be made in due course confirming the final balance
of consideration, including any additional ordinary shares to be issued.

 

Application has been made for the 1,993,581 Completion Consideration Shares to
be admitted to trading on AIM ("Admission"), which is expected to become
effective on Friday 10(th) April 2026. Following Admission, the Company will
have 286,899,495 ordinary shares of 1 pence each in issue. The Company holds
no shares in treasury. The total voting rights in the Company following
Admission will therefore be 286,899,495. This figure may be used by
shareholders as the denominator for the calculations by which they will
determine if they are required to notify their interest in, or a change to
their interest in, the Company under the FCA's Disclosure Guidance and
Transparency Rules.

 

Further detail on MS UAE is set out in the Company's RNS dated 22 December
2025.

 

Rakesh Shaunak, CEO of MHA, commented:

 

"The completion of the acquisition of MS UAE marks another important step in
delivering our international growth strategy. It gives us a strong foothold in
a strategically important market, broadens our international reach and
strengthens our ability to support clients operating across key global trade
and investment corridors. We are delighted to welcome Farad and the wider team
to MHA."

 

Farad Lakdawala, Managing Partner of MS UAE, commented:

 

"Joining MHA aligns with our ambition to build a leading advisory presence in
a market that continues to attract global capital and enterprise. The
reputation and strength of the MHA brand and business model creates a
compelling platform for the next stage of our growth. By combining our local
insight with the Group's broader capabilities, we look forward to delivering
enhanced value for clients and contributing to the continued success of the
wider firm."

 

Contacts

 

 MHA                                                                 www.mha.co.uk (http://www.mha.co.uk/)
 Rakesh Shaunak, Chief Executive Officer                             via Alma
 Steven Moore, Chief Financial Officer

 Cavendish Capital Markets Limited (Nominated Adviser & Broker)
 Stephen Keys, Callum Davidson (Corporate Finance)                   +44 (0)20 7220 0500

 Michael Johnson (Sales)
 Sunila de Silva (ECM)

 Alma Strategic Communications                                       mha@almastrategic.com (mailto:mha@almastrategic.com)
 Andrew Jaques, David Ison, Joe Pederzolli, Emma Thompson            +44 (0)20 3405 0205

 

About MHA

 

MHA is a leading professional services provider of audit and assurance, tax,
accountancy and advisory services, based in the UK with an international
presence.

 

Following the acquisition of MS UAE on 1(st) April 2026, MHA now employs over
2300 people and has 157 partners across its network of 37 offices in the UK,
Ireland, South-East Europe, the UAE and the Cayman Islands.

 

MHA is the representative of the Baker Tilly International ("BTI") network in
the UK, Ireland, Cyprus, Greece, Romania, Bulgaria and Moldova.

 

 

 

 

 

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