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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Ig Design Group Plc | LSE:IGR | London | Ordinary Share | GB0004526900 | ORD 5P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 193.00 | 190.00 | 195.00 | 192.50 | 192.50 | 192.50 | 48,225 | 16:35:16 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Convrt Paper,paperbd Pds,nec | 801.95M | 35.63M | 0.3625 | 5.31 | 189.68M |
TIDMIGR
RNS Number : 5215M
IG Design Group PLC
24 May 2022
24 May 2022
IG Design Group plc
('Design Group' or the 'Company')
Exercise of put option in Anker Play Products
IG Design Group plc announces the purchase of the remaining 49 per cent of the membership units in its subsidiary Anker Play Products, LLC ("APP"), bringing its total ownership to 100 per cent. This was completed pursuant to the exercise of a put option by Maxwell Summers, Inc., the holder of the 49 per cent membership unit interest, which the Group is legally obliged to purchase with the exercise of the put option under the APP limited liability company agreement dated March 30, 2017. The transaction was contractually committed on 23 May 2022, with an effective date of 1 April 2022.
The transaction, made through IG Design Group plc's American subsidiary IG Design Group Americas, Inc. is satisfied with an initial cash payment of $1.5 million with the final cash payment subject to finalisation of APP's financial results to 31 March 2022. The Directors anticipate this payment to be c.$1.6 million. The consideration will be satisfied from the existing Group facilities of the Company.
APP develops and sources crafts, toys and games for the US retail market. APP generated a profit before tax of $1.8 million on revenue of $21.1 million in the year to 31 March 2021. APP had net assets as at 31 March 2021 of GBP1.6 million. The financial results of APP have historically been fully consolidated within the financial results of Design Group and as such the Directors anticipate that this transaction will have no material impact on the future reported financial results of the Group other than a reduction in the minority interest charge in the Group income statement.
For further information, please contact:
IG Design Group plc Tel: +44 (0)1525 887310 Giles Willits, Director Canaccord Genuity Limited (NOMAD and Tel: +44 (0)20 7523 8000 Broker) Bobbie Hilliam - NOMAD Alex Aylen - Sales Alma PR Tel: +44 (0)20 3405 0205 Rebecca Sanders-Hewett Susie Hudson Sam Modlin
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(END) Dow Jones Newswires
May 24, 2022 02:01 ET (06:01 GMT)
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