Paragon Of Companies (LSE:PAG)
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1 Year : From May 2012 to May 2013
LONDON--Paragon Group Of Companies PLC (PAG.LN), a provider of mortgages and personal loans, said Monday it has acquired further unsecured consumer loans, through its Idem Capital Securities subsidiary, from The Royal Bank of Scotland PLC under the terms of a forward flow agreement.
MAIN FACTS:
-The consideration, which is being financed from Paragon's cash reserves and which represents the value at which the acquired loans will be taken on to the Group's balance sheet, is GBP49,000.
-The investment is expected to be earnings enhancing in the current financial year.
-It is anticipated that there will be opportunities to make further modest acquisitions under the agreement and these will be announced as they occur.
-Shares at 1601 GMT down 2%, at 1.6 pence, valuing the company at GBP503 million.
-Write to Mark Shapland at mark.shapland@dowjones.com
