Proactive Investors - Run By Investors For Investors

CentralNic confirms in talks on potential combination with Luxembourg-based KeyDrive; shares temporarily suspended

The AIM-listed group said it currently anticipates the transaction will be completed in the second quarter of 2018. Discussions still ongoing and there can be no certainty that a transaction will occur
Domain names
If the deal proceeds it will constitute a reverse takeover by CentralNic, accordingly trading in the group’s shares have been suspended on AIM with immediate effect

CentralNic Group PLC (LON:CNIC) has confirmed that discussions are taking place regarding the potential combination of the AIM-listed firm and Luxembourg-based KeyDrive S.A. and its subsidiaries including leading domain reseller platforms and the corporate registrar BrandShelter.

In a statement noting industry speculation, the domain names and services group said the two firm’s boards “believe that the combination of the two businesses would have strong strategic logic and economies of scale, and would represent an opportunity to create a group with advanced technology platforms delivering significant recurring revenues for every major customer type within the industry.“

READ: CentralNic's acquisition strategy augmenting its growth surge

CentralNic added that it currently anticipates the transaction will be completed in the second quarter of 2018, although with discussions still ongoing and there can be no certainty that a transaction will occur. 

If the deal proceeds, the firm said, it will constitute a reverse takeover by CentralNic, accordingly, trading in the group’s shares have been suspended on AIM with immediate effect.

The group added that a further announcement will be made when appropriate.

View full CNIC profile View Profile

Centralnic Group PLC Timeline

Related Articles

US dollars
January 14 2019
The growing company’s share price gained 90% last week on news of the cash injection.
Data stream
November 28 2018
The firm recently reported wider margins and a narrowed loss in its first half, with chairman John O'Hara saying the company was expecting to enter profitability in the full 12 months
scientist in laboratory
March 07 2019
In a January update, Instem said trading had been in-line with expectations, helped by a 500% rise in orders for its SEND platform

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

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