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Placing of new Ordinary Shares
Date: 23-11-2006
Source: IFG
IFG Group plc (“IFG”) - Possible acquisition
IFG announces that it is in advanced discussions which may or may not lead to the acquisition of a specialist corporate services company offering trust and company administration services and structures, similar to those provided by IFG’s international division. The total consideration being contemplated is in the region of Stg£10.5m including earn-out.
The acquisition if completed, will be funded from the group’s existing resources and by the proceeds of a placing of 3,224,425 new IFG ordinary shares being 5% of the issued share capital of IFG and the sale of a further 911,226 IFG ordinary shares which are currently held as treasury shares. A further announcement is expected to be made shortly. 23 November, 2006
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