CMO Cmo Group Plc

RNS Number:5375D
Comino Group PLC
14 May 2001


Acquisition of minority interest

The  Company   announced on 7 July 2000 the  acquisition  of
81.6  per  cent.  of Rebus LG Limited (now Saffron  Computer
Services).   The   agreement   included   certain   outlined
performance based arrangements to secure the remaining 18.4 
per cent. of management shares not held by the Company. The 
Company is now  pleased  to  announce that, Saffron Computer  
Services, subject  to  the  allotment of an  initial  60,000  
ordinary shares, has become wholly owned by the Company. This  
allows corporate  structure and performance criteria to be  
aligned to  the needs of the Comino Group as a whole to allow 
faster integration of Saffron Computer Services.

Performance based arrangements still apply to the management
and  the maximum total consideration payable (including  the
initial  60,000 ordinary shares) is 300,000 ordinary  shares
which  is within the limits previously announced on  7  July
2000.

The  Company announces that application has been made to the
UK  Listing Authority and the London Stock Exchange plc  for
the  initial  60,000 ordinary shares to be admitted  to  the
Official  List  and to trading on the main market of the London 
Stock  Exchange plc.   Dealings are expected to commence on 18 
May 2001  and once  issued the shares will rank pari passu with 
the  other shares in issue.

Cmo (LSE:CMO)
Historical Stock Chart
From Jun 2024 to Jul 2024

Cmo (LSE:CMO)
Historical Stock Chart
From Jul 2023 to Jul 2024