Likewise Group PLC Settlement of Contingent Consideration (9117Z)

TIDMLIKE

RNS Number : 9117Z

Likewise Group PLC

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 GBP3,855,000 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                                 Tel: +44 (0) 121 
  Tony Brewer, Chief Executive                       817 2900 
 Zeus (Nominated Adviser and Joint Broker)          Tel: +44 (0) 20 
  Jordan Warburton / David Foreman / James Edis      3829 5000 
  (Investment Banking) 
  Dominic King (Corporate Broking) 
 WH Ireland (Joint Broker)                          Tel: +44 (0) 20 
  Hugh Morgan / Antonio Bossi (Corporate Finance)    7220 1666 
  Fraser Marshall / Harry Ansell (Corporate 
  Broking) 
 Ravenscroft (Joint Broker)                         Tel: +44 (0) 1481 
  Semelia Hamon (Corporate Finance)                  732 746 
 Novella Communications (Financial PR)              Tel: +44 (0) 20 
  Claire de Groot / Tim Robertson                    3151 7008

ENDS

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January 17, 2024 02:00 ET (07:00 GMT)

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