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An announcement from Volex plc ( (GB:VLX) ) is now available.
Volex plc has announced that Murat Ticaret has exceeded its EBITDA targets within the first 12 months following its acquisition. As a result, Volex will issue the first tranche of deferred consideration to Murat Ticaret’s former owners, consisting of €10 million in cash and 2,878,830 ordinary shares. The new shares will be admitted to trading on AIM on 8 January 2025, increasing Volex’s issued share capital to 184,529,938 ordinary shares. This move underscores Volex’s commitment to strengthening its market position and enhancing shareholder value through strategic acquisitions.
More about Volex plc
Volex plc is a global leader in power and data connectivity solutions, specializing in mission-critical applications. The company serves international blue-chip customers across five sectors: Electric Vehicles, Consumer Electricals, Medical, Complex Industrial Technology, and Off-Highway. Headquartered in the UK, Volex operates 28 advanced manufacturing facilities worldwide, employing 14,000 people from 25 nations, with a focus on supporting Original Equipment Manufacturers and Electronic Manufacturing Services companies globally.
Average Trading Volume: 462,793
Technical Sentiment Consensus Rating: Hold
Current Market Cap: £509.3M
See more insights into VLX stock on TipRanks’ Stock Analysis page.
