Proactive Investors - Run By Investors For Investors

FairFX to pay additional £500,000 in deferred consideration for Q Money

The payment will be made with 1.14mln shares at a price of 43.5p each
Money
A final additional consideration of £325,000 is potentially payable in the future

FairFX Group PLC (LON:FFX) has agreed to pay £500,000 in additional consideration for Q Money Limited relating to its acquisition of the firm in January 2017.

The international payment services provider said the payment followed the achievement of “certain performance milestones”, with a final additional consideration of £325,000 potentially payable in the future subject to a final performance condition in 2020.

READ: FairFX off to a strong start in 2019 after transformational 2018

The payment will be made with 1.14mln shares at a price of 43.5p each.

FairFX said its acquisition of Q Money and its associated e-money licence back in 2017 had been “an important milestone” in the evolution of the group, with the licence underpinning its digital banking products as well as its direct membership of Mastercard to issue its own bank cards.

In late-afternoon trading on Thursday, FairFX shares were up 0.8% at 120p.

View full FFX profile View Profile

FairFX Group PLC Timeline

Related Articles

world
January 29 2019
"Late-stage lending can be advantageous for the company as lending rates can rise," the firm said.
1552315586_zinc-periodic-3.jpg
March 12 2019
Mineral and Financial offers investors an inside track to commodities
Blockchain technology
May 16 2019
The investment firm finances and manages the development of early-stage blockchain technology companies
Copyright © Proactiveinvestors.com, 2019. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use