Mortgage Advice Bureau (Holdings) (GB:MAB1) has released an update.
Mortgage Advice Bureau (Holdings) PLC has completed its acquisition of the outstanding 20% of First Mortgage Direct Limited, purchasing it for £9.35 million in a mix of cash and new ordinary shares. The transaction, which is expected to be earnings enhancing for MAB, sees Ian McGrail remain as Managing Director of First Mortgage. Following the acquisition, the total number of ordinary shares with voting rights in MAB will increase to 57,956,789.
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