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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Maintel Holdings Plc | LSE:MAI | London | Ordinary Share | GB00B046YG73 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
5.00 | 2.04% | 250.00 | 240.00 | 260.00 | 250.00 | 245.00 | 245.00 | 5,800 | 08:47:24 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Tele & Telegraph Apparatus | 91.04M | -4.36M | -0.3036 | -8.23 | 35.91M |
TIDMMAI
RNS Number : 7165M
Maintel Holdings PLC
01 August 2017
Maintel Holdings Plc
("Maintel" or the "Company")
Acquisition of Intrinsic Technology Limited
Maintel Holdings Plc, the fast growing provider of managed communications, is pleased to announce the acquisition of the entire issued share capital of Intrinsic Technology Limited ("Intrinsic") for a total consideration of GBP5.25 million on a cash-free, debt-free basis (the "Acquisition").
Highlights:
-- Intrinsic enables and manages secure intelligent communications solutions for UK business customers, predominantly medium to large size enterprises and public sector organisations
-- Intrinsic adds strong capability in Cisco through its Gold Partner status, and increases Maintel's expertise in the fast growing network security sector
-- Intrinsic is expected to be breakeven at the EBITDA level for the remainder of Maintel's current financial year
-- With identified synergies, it is expected to generate positive EBITDA and be earnings enhancing in the financial year to December 2018
Eddie Buxton, CEO of Maintel, commented:
"The acquisition of Intrinsic makes compelling strategic and financial logic for our shareholders. Intrinsic has an enviable track record as one of the UK's leading Cisco partners and significantly enhances Maintel's strong capability in networking. As well as further broadening our Avaya capabilities, the acquisition also brings the opportunity to offer Maintel's existing portfolio to Intrinsic customers, in particular our ICON suite of cloud and managed services".
Maintel intends to report Interim results for the six months ending 30 June 2017 on 11 September 2017.
Enquiries:
Maintel Holdings Plc
Eddie Buxton 0344 871 1122
Mark Townsend
finnCap Ltd
Jonny Franklin-Adams / Emily Watts 020 7220 0500
Consideration
The consideration for the Acquisition is a total of GBP5.25 million payable in cash on a cash-free, debt-free basis and will be funded by an extension to, and draw-down under, the Company's existing Revolving Credit Facility with RBS (the "RCF"). The RCF, originally secured in April 2016 has been increased by GBP6 million to GBP42 million.
About Intrinsic
Intrinsic enables and manages secure intelligent communications solutions for UK business customers, predominantly medium to large size enterprises and public sector organisations.
Intrinsic works with industry leading software suppliers, hardware companies and communications vendors such as; Cisco, Avaya, Fortinet, Gamma, Citrix, NetApp, VMWare and Microsoft.
For the 12 months to May 2017, Intrinsic's adjusted(*) loss before tax was approximately GBP550,000.
* Unaudited, excluding goodwill and other exceptionals
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014
This information is provided by RNS
The company news service from the London Stock Exchange
END
ACQSSSSAFFWSEDA
(END) Dow Jones Newswires
August 01, 2017 05:00 ET (09:00 GMT)
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