2 June 2021 - acquisition
The AIM-listed company has announced that it has exchanged contracts to acquire the entire issued share capital of Nottingham Mortgage Services Limited, a wholly owned subsidiary of the Nottingham Building Society for a total consideration of £600k. This is being satisfied in cash from existing resources. In the year to December 2020, the acquired business reported revenue of £1.74m and operating profit of £255k. The current year projected operating profit is £175k net of ongoing introducer payments to Nottingham Building Society. Completion will take place on 31 July 2021 and the . . .
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