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: +44 (0) 121 817 2900 |
| Zeus (Nominated Adviser and Joint Broker) Jordan Warburton / David Foreman / James Edis (Investment Banking) Dominic King (Corporate Broking) | Tel: +44 (0) 20 3829 5000 |
| WH Ireland (Joint Broker) Hugh Morgan / Antonio Bossi (Corporate Finance) Fraser Marshall / Harry Ansell (Corporate Broking) | Tel: +44 (0) 20 7220 1666 |
| Ravenscroft (Joint Broker) Semelia Hamon (Corporate Finance) | Tel: +44 (0) 1481 732 746 |
| Novella Communications (Financial PR) Claire de Groot / Tim Robertson | Tel: +44 (0) 20 3151 7008 |
ENDS
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.