AssetCo has reached an agreement to acquire the entire issued share capital of Revera Asset Management for £2.8m.
This will be satisfied by the issue of 54,639 new ordinary shares of 10p each in the company, along with £1.9m in cash, to be paid on completion.
The deal is conditional on approval by the Financial Conduct Authority to the change in controller and the admission of the new shares to trading on AIM, which is expected to occur by the end of May.
