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Worldspreads Group (WSPR)

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Wednesday 29 February, 2012

Worldspreads Group

Deferred consideration update

RNS Number : 3277Y
Worldspreads Group PLC
29 February 2012
 

WorldSpreads Group plc

("WorldSpreads" or the "Group")

Deferred consideration update

 

Pursuant to the Share Purchase Agreement whereby OR Spreadbetting Limited acquired WorldSpreads (Ireland) Limited from WorldSpreads Group plc in December 2009, WorldSpreads announces that it has not yet received payment of the deferred consideration of €1.65m due on 22 December 2011 from OR Spreadbetting Limited as a number of warranty issues have arisen under that agreement.  Both sides are working together to resolve the issues and are hopeful of a satisfactory outcome.

 

A further announcement will be made as and when appropriate.

For further information, please contact:

WorldSpreads Group plc

Conor Foley, Chief Executive Officer / Dominic Bacon, General Counsel

+44 (0)20 7398 5100

Collins Stewart Europe Limited

Matt Goode / Rishi Shah

+44 20 7523 8350

Bloxham

Peter O'Carroll

+353 (0) 1 611 9200

 

About WorldSpreads Group plc

 

WorldSpreads Group plc (AIM: WSPR) is a financial services group offering online and telephone trading. The Group's core activity is the provision of spread betting products on the financial markets to retail clients from its website www.worldspreads.com.

 

WorldSpreads Limited, a wholly-owned trading subsidiary of WSPR, is regulated and authorised by the Financial Services Authority.  It offers a full range of spread betting prices on all the major financial markets, including stock indices, individual shares, currencies, commodities and interest rates.

 

The Group floated on the London Stock Exchange's AIM market in August 2007 and gained a dual listing by joining the Irish Stock Exchange's IEX market in May 2008.

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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