Oberon Investments Group plc (AQSE:OBE), the boutique investment management, wealth planning and corporate broking group, has announced the payment of the first tranche of deferred consideration in relation to the acquisition of Smythe House Limited, first announced on 28 May 2021.
After a very successful first year since acquisition, and the meeting of all required targets, the first tranche payment will comprise the issue of 1,063,717 new ordinary shares in Oberon plus £28,342 in cash. At the current market price of 5.3p per Oberon ordinary share, the value of the new shares being issued equates to £56,377 and hence the total value of the first tranche payment amounts to £84,719. Admission of the new ordinary shares is expected to occur on or around 22nd June 2022.
In accordance with the AQSE Growth Market Access Segment’s Disclosure Guidance and Transparency Obligations, following the issue of these new shares, which will be admitted to the market on or around the 22 June 2022, the Company’s issued share capital consists of 470,124,330 Ordinary Shares of 0.5p, each with one voting right. The Company does not hold any Ordinary Shares in treasury. Therefore, the total number of voting rights in the Company is 470,124,330.
The above figure of 470,124,330 should be used by shareholders in the Company 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 share capital of the Company under the AQSE Growth Market Access Segment’s Disclosure Guidance and Transparency Obligations.
The directors of Oberon Investments Group plc accept responsibility for this announcement.
Simon McGivern, CEO of Oberon Investments Group plc, said : “I am delighted with the performance of Smythe House since acquisition and the deferred consideration is well earned. Smythe House has been a key determinant in terms of our successful reach into bespoke Wealth Management and we look forward to excellent further progress being made in the current year.”
