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Knights Group Holdings PLC - Newcastle, England-based legal and professional services - Completes the acquisition of York and Lincoln-based law firm Langleys Solicitors LLP. Notes that it adjusted the acquisition terms due to recent share price movements. The £2.8 million that would have been issued in new ordinary shares in Knights will now be paid in cash in three equal instalments on January 2, 2023, January 2, 2024 and January 2, 2025.
The company first announced the £11.5 million acquisition in January. The deal was made up of an initial £8 million, consisting of £5.3 million in cash and £2.8 million in 704,515 new shares in the company. Langleys is also eligible for a deferred cash consideration of £3.5 million to be paid in equal instalments over the three years.
Current stock price: 154.21 pence, up 6.3% on Friday
12-month change: down 64%
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