Cohort plc (CHRT.L) said that it agreed to acquire the entire issued share capital of EM Solutions Pty Ltd which holds all of the issued share capital in EM Solutions (Europe) B.V. from Electro Optic Systems Holdings Limited for an enterprise value of A$144.0 million or 75.0 million pounds.
Cohort announced a fully underwritten non-pre-emptive placing to institutional investors to raise gross proceeds of 40 million pounds, the net proceeds of which will be used to partially fund the acquisition.
In addition, Cohort announced a Retail Offer to raise gross proceeds of up to 1 million pounds (before fees and expenses), to allow retail shareholders an opportunity to participate in the Fundraise at the same price as the Placing.
Cohort provides the update on the first-half of 2024/25, which are slightly above management's previous expectation. The Board now expects Group revenue of at least 105 million pounds up 11 per cent. on the prior year. Group adjusted profit was at least 9 million pounds up 50 per cent from the prior year.
For comments and feedback: editorial@rttnews.com