Settlement of Contingent Consideration

Likewise Group PLC

17 January 2024

 

17 January 2024

Likewise Group plc

("Likewise", the "Company" or the "Group")

Settlement of Contingent Consideration

Likewise Group plc (AIM:LIKE), the fast growing and progressive Flooring Distributor, announces that the contingent consideration of £3,855,000 has been paid in full from current cash resources to the vendors of Valley Wholesale Carpets (2004) Limited ("Valley") under the terms of the Share Purchase Agreement announced on 15 December 2021.

No further payments are owed to the vendors of Valley.

Tony Brewer, Chief Executive of Likewise, said:

"Valley has been an excellent acquisition with the quality of Assets acquired plus the positive impact to Group profitability and operating cash flow. We thank the Management and Staff for their contribution in maintaining Valley as an autonomous business.

Whilst very early in the year, trading has commenced positively, and the Likewise Group is extremely well positioned to accelerate growth during 2024."

For further information, please contact:
Likewise Group plc Tony Brewer, Chief Executive	Tel: [phone]
Zeus (Nominated Adviser and Joint Broker) Jordan Warburton / David Foreman / James Edis (Investment Banking) Dominic King (Corporate Broking)	Tel: [phone]
WH Ireland (Joint Broker) Hugh Morgan / Antonio Bossi (Corporate Finance) Fraser Marshall / Harry Ansell (Corporate Broking)	Tel: [phone]
Ravenscroft (Joint Broker) Semelia Hamon (Corporate Finance)	Tel: [phone]
Novella Communications (Financial PR) Claire de Groot / Tim Robertson	Tel: [phone]

ENDS

 

END