Oberon Investments - Deferred consideration payment and TVR
RNS Number : 2268P
Oberon Investments Group PLC
17 June 2022
 

 

17 June 2022 

Oberon Investments Group plc

("Oberon", or the "Company")

Smythe House Limited deferred consideration payment and Total Voting Rights

Oberon Investments Group plc (AQSE: OBE) ("the Group"), the boutique investment management, wealth planning and corporate broking group, announces today the payment of the first tranche of deferred consideration in relation to the acquisition of Smythe House Limited, first announced on 28 May 2021.

After a very successful first year since acquisition, and the meeting of all required targets, the first tranche payment will comprise the issue of 1,063,717 new ordinary shares in Oberon plus £28,342 in cash. At the current market price of 5.3p per Oberon ordinary share, the value of the new shares being issued equates to £56,377 and hence the total value of the first tranche payment amounts to £84,719. Admission of the new ordinary shares is expected to occur on or around 22nd June 2022.

In accordance with the AQSE Growth Market Access Segment's Disclosure Guidance and Transparency Obligations, following the issue of these new shares, which will be admitted to the market on or around the 22 June 2022, the Company's issued share capital consists of 470,124,330   Ordinary Shares of 0.5p, each with one voting right. The Company does not hold any Ordinary Shares in treasury. Therefore, the total number of voting rights in the Company is 470,124,330.

The above figure of 470,124,330 should be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the AQSE Growth Market Access Segment's Disclosure Guidance and Transparency Obligations.

The directors of Oberon Investments Group plc accept responsibility for this announcement.

Simon McGivern, CEO of Oberon Investments Group plc, said: "I am delighted with the performance of Smythe House since acquisition and the deferred consideration is well earned. Smythe House has been a key determinant in terms of our successful reach into bespoke Wealth Management and we look forward to excellent further progress being made in the current year."

This announcement contains information which, prior to its disclosure, was inside information as stipulated under Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310 (as amended).

For further information, please contact:

Oberon Investments Group plc


Simon McGivern / John Beaumont

Via IFC Advisory

 

AQSE Corporate Adviser and Broker


Novum Securities Limited

020 7399 9400 

Richard Potts / Lucy Bowden


IFC Advisory Limited 

020 3934 6633

Graham Herring/Florence Chandler


 

Notes to Editors

Oberon operates in the UK wealth and fund management sector and in the corporate broking and financial advisory sectors. Since Oberon Investments Ltd was established in April 2017, Oberon group's FUMA have grown to in excess of £1 billion. This has been achieved organically by adding new clients and new fund managers, attracted by the emerging brand and by a number of small, selective and accretive acquisitions. Oberon Capital, the corporate broking division, launched in June 2020, provides advice and raises capital for companies from seed and early-stage funding through to IPO and beyond.

 

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