RNS Number : 4609G
Bilby PLC
08 August 2016
Bilby Plc ("Bilby" or the "Group")
Payment of Additional Cash Consideration
Bilby Plc (AIM: BILB.L), the holding company for P&R Installation Company Limited, Purdy
Contracts Limited, Spokemead Maintenance Limited ("Spokemead"), and DCB (Kent) Limited, a group of companies that provide gas
heating, electrical and building services, is pleased to announce that Spokemead has met its earn out performance conditions for
the year ended 30 June 2016.
Additional Consideration
As a result of Spokemead achieving an adjusted profit before taxation of more than the target of
£1,100,000 for the year ended 30 June 2016 and following the approval of the June 2016 management accounts, Bilby has paid an
additional cash consideration of £1.0 million ("Additional Cash Consideration") to the Spokemead vendors.
Subsequent to the settlement of the Additional Cash Consideration noted above, further
consideration of up to £1.5 million shall be paid subject to Spokemead achieving performance targets over the year ending 30 June
2017 and the period to 30 September 2018 ("Further Consideration") as detailed in the announcement released on 24 March
2016.
Enquiries:
Bilby Plc 020
8269 3777
Phil Copolo, Deputy Executive Chairman
Katie O'Reilly, Finance Director
Panmure Gordon
020 7886 2500
(Nominated Adviser and Broker)
Dominic Morley
James Greenwood
Hudson Sandler
020 7796 4133
(Financial PR)
Charlie Jack
Emily Dillon
This information is provided by RNS
The company news service from the London Stock Exchange
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