Client NewsVertu Capital Limited: Intended Acquisition and Suspension of Listing
The Directors of VCBC are pleased to inform shareholders that the Company has signed a conditional term sheet (the “Term Sheet”) with Vox Capital Plc, the parent company that wholly owns a mobile marketing agency, Mobio Global and has shareholdings in an influencer marketing automation platform and a mobile app monetisation platform (the “Target”), in relation to the potential acquisition of the Target by VCBC (“Intended Acquisition”).
Under the Term Sheet, VCBC has conditionally agreed to acquire the Target for a total consideration of approximately £25,300,000 (subject to adjustment should the number of securities the Target has in issue vary between the date of this announcement and completion) to be satisfied by the issue of 690,526,810 Ordinary Shares in the capital of VCBC at a price of 1.2 pence per Ordinary Share and a Convertible Loan Note for the balance, subject to agreement of such with, amongst others, the FCA. The Term Sheet is non-binding.
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