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Gateley pleased with Hamer performance as it pays earn-out consideration
Commercial law and complementary professional services group Gateley Holdings announced on Tuesday that, in accordance with the acquisition agreement of Gateley Hamer - formerly Hamer Associates - a total earn out consideration of £0.47m had been paid.
The AIM-traded firm said the earn-out consideration was split equally between cash and shares.
As a result, 138,329 ordinary shares had been issued, and application had been made to the London Stock Exchange for those shares to be admitted to trading on AIM.
Gateley said admission was expected at 0800 BST on 22 June.
"We are pleased with the contribution made by Gateley Hamer," said Gateley chief executive officer Michael Ward.
"Increased cross-selling of services between traditional Gateley and Hamer clients and expansion of the specialist team, including establishing a new presence in our London office, positions Gateley Hamer well to generate increased revenue and profit in the current financial year."