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Issue of deferred consideration shares on SuperLife acquisition
NZX advises that it has today issued 4,132,232 shares at $1.21 per share as deferred consideration to the vendors for the acquisition of SuperLife Limited. The acquisition was completed in January 2015 for an initial consideration of $20 million. An additional $5 million of deferred consideration, to be paid in NZX shares at an issue price of $1.21 per share was payable if funds under management (FUM) exceeded $1.207 billion for a period of 12 consecutive months following completion. This condition was satisfied in January 2016 so these shares have now been issued. Further details of the share issue are contained in the attached notice.
Additional deferred consideration of up to $10 million in cash may become payable in Q1 2018 if targets are met for growth in FUM over the period to 31 December 2017.
