Equals Group PLC Completion of Roqqett acquisition (0151M)

TIDMEQLS

RNS Number : 0151M

Equals Group PLC

09 January 2023

 
 For immediate release   9 January 2023 
 

Equals Group plc

('Equals', the 'Group' or the 'Company')

Completion of Roqqett acquisition

Equals Group plc (AIM:EQLS), a leading fintech payments group focused on the SME marketplace, is pleased to announce that further to the announcement issued on 28 November 2022 and having now received regulatory approval from the Financial Conduct Authority, the acquisition of Roqqett Limited ('Roqqett') has now completed.

The initial GBP1.0 million cash payment has been fully satisfied from Equals' existing cash resources and this will be followed by three deferred payments, one of up to GBP0.25 million satisfied in cash (when Roqqett receives the benefit of R&D tax credits) and two of GBP0.5 million, one in cash and the other satisfied by the issue of ordinary shares in Equals, struck at the five-day volume-weighted average price of 87.23p as of Friday, 25 November 2022. The second and third deferred payments become due when certain capabilities are added to the platform and are expected to be paid in under one year.

The acquisition of Roqqett is expected to be earnings accretive for the Group in the medium term and will allow Equals to widen the addressable markets for its services as well as driving growth.

- Ends -

For more information, please contact:

 
 Equals Group plc 
 Ian Strafford-Taylor, CEO              Tel: [phone] 
  Richard Cooper, CFO                                   9308 
                                           www.equalsplc.com 
 Canaccord Genuity (Nominated Adviser 
  / Broker) 
 Max Hartley / Harry Rees               Tel: [phone] 
                                                        8150 
 Buchanan (Financial Communications) 
 Henry Harrison-Topham / Toto Berger    Tel: [phone] 
  [e-mail]                                5000 
                                         www.buchanan.uk.com 
 

Notes to Editors:

Equals Group is a technology-led international payments group augmented by highly personalised service for the payment needs of SME's whether these be FX, card payments or via Faster Payments. Founded in 2007, the Group listed on AIM in 2014 and currently employs around 285 staff across sites in London and Chester. For more information, please visit www.equalsplc.com .

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January 09, 2023 02:00 ET (07:00 GMT)