logo-loader
viewCentralnic Group PLC

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.

Quick facts: Centralnic Group PLC

Price: 43.5 GBX

LSE:CNIC
Market: LSE
Market Cap: £79.08 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Centralnic Group PLC named herein, including the promotion by the Company of Centralnic Group PLC in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Full interview: CentralNic triples revenue to 50m and lifts ebitda to 5m

CentralNic Group (LON:CNIC) has reported a tripling of underlying revenue and earnings and said it's confident that full-year results will be at around the top end of current market forecasts. CEO Ben Crawford dropped by Proactive London studios to also explain that the pipeline of future deals...

on 2/9/19

2 min read