Cohort PLC MCL acquisition final instalment paid (6377O)

TIDMCHRT

RNS Number : 6377O

Cohort PLC

22 August 2017

22 August 2017

Cohort plc

("Cohort")

MCL acquisition final instalment paid

Cohort, the independent technology group, confirms that, further to the statement in the final results released on 29 June 2017, it has paid a final instalment of GBP2.5m to MCL's former shareholders under the terms of the acquisition agreement dated July 2014. This amount includes GBP0.6m as a final performance-based value adjustment, and just over GBP1.9m as the former shareholders' share of the surplus cash in the business as at 30 April 2017. The payment was funded from Cohort's existing financial resources.

Ends

For further information, please contact:

 
 
 Cohort plc                      0118 909 0390 
 Andy Thomis, Chief Executive 
 Simon Walther, Finance 
  Director 
 
 Investec Bank Plc               020 7597 5970 
 Keith Anderson / Daniel 
  Adams 
 
 MHP Communications Limited      020 3128 8100 
 Reg Hoare / Ollie Hoare 
 

NOTES TO EDITORS

Cohort is the parent company of four innovative, agile and responsive businesses based in the UK and Portugal, providing a wide range of services and products for domestic and export customers in defence and related markets.

MASS is a specialist defence and technology business, focused on electronic warfare, information systems and cyber security.

www.mass.co.uk

MCL is an expert in the sourcing, design, integration and support of communications and surveillance technology for the defence and security markets.

www.marlboroughcomms.com

SEA is an advanced electronic systems and software house operating in the defence, transport and offshore energy markets.

www.sea.co.uk

EID designs and manufactures advanced communications systems for the defence and security markets.

www.eid.pt

This information is provided by RNS

The company news service from the London Stock Exchange

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August 22, 2017 04:24 ET (08:24 GMT)