("Tracsis" or the "Group")
Additional information regarding acquisitions
Further to the announcements made on 1 February 2018, Tracsis wishes to provide the following additional information regarding the acquisitions.
The consideration comprised:
1. An initial cash payment of £1.75m
2. The issue of 28,571 Ordinary Shares in Tracsis at a total value of £0.15m;
3. An additional cash payment in respect of net current assets (yet to be calculated) of up to £0.25m; and
4. Contingent deferred cash consideration of up to £4.7m, payable annually based on the significant growth in performance of the acquisitions over a three year period.
As at 30 September 2017, the gross assets subject to the transaction were £0.4m.
Tracsis confirms the ordinary shares in relation to the vendor equity consideration have been issued at 525.0p, the closing price as at 31 January 2018.
Tracsis would like to make it clear that the size of the transaction falls significantly below all of the disclosure thresholds for corporate transactions under AIM Rule 12.
For more information please contact:
John McArthur/Max Cawthra, Tracsis plc
Andrew Pinder/Seb Lawrence, Investec Bank plc
Tel: 020 7597 4000