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CNIC's deal

By BFN News | 07:57 AM | Tuesday 08 December, 2015

CentralNic, the internet platform business which derives revenues from the global sale of domain names, has conditionally agreed to Instra Group for a total consideration of AUD33m. This would comprise A$30m in cash and A$3m in shares in CentralNic Group plc. The total consideration will be adjusted for working capital balances at completion. The company also announces a firm placing with institutional investors to raise approximately £10m before expenses through the issue of 25 million new ordinary shares at 40 pence per share. The placing received demand from new and existing institutional investors. Chief executive Ben Crawford said: "This has been a year of growth for CentralNic from both an operational and financial perspective, and this deal is transformative for the Group as we continue on our growth strategy. Instra Group is a fast growing, robust and global business and we look forward to integrating Instra into CentralNic. This acquisition will grow our current revenues by 70% and extend our retail capabilities to serve customers in the fast growing emerging markets, globally. We are delighted with the support shown by both new and existing investors for this placing." Story provided by

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