Crimsonwing plc's share price jumped by 87.5 per cent this morning to the 30c level - its highest level since November, on renewed demand totalling 38,000 shares.
This was in reaction to yesterday's announcement by the company that it will be acquiring the remaining 49 per cent of Promentum BV for a total consideration of €1.2 million.
The acquisition will be settled as follows: the allotment of 2,940,000 shares in Crimsonwing plc to the shareholders of Promentum at a price of 30c per share representing 75 per cent of the consideration whilst the remaining 25 per cent (€294,000) will be settled through a four-year loan.
This acquisition will enable the Crimsonwing Group to consolidate its business activities in The Netherlands under one subsidiary – Crimsonwing NL.
Simonds Farsons Cisk plc also closed in positive territory with a 6.6 per cent rise to a fresh 41-month high of €1.95 but activity was weak with only 728 shares changing hands.
The Farsons Group recently revealed a 26.1 per cent increase in profitability to €4.7 million as well as a 6.3 per cent increase in the final dividend to 5c67 per share.
Coupled with the interim dividend of 1c33, the Farsons Group's payout to...
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