Research Views is a portal for Oil & Gas and Power news and analysis. In FY17 the Research Views generated pro forma revenues of approximately £27.0m (an increase of 18.8% over the prior year) and EBITDA of £2.1 million.
Under the terms of the Acquisition, 15,957,447 new Ordinary Shares will be issued to the vendors of Research Views Limited (15.6% of the Existing Ordinary Shares), which equates to £90.0 million based on the volume weighted average price of an Existing Ordinary Share of 564 pence over the 30 days prior to the announcement of the possible acquisition. GlobalData’s share price at the close of business on 23 February 2018, the last business day before the original announcement of the possible acquisition, was 547.5 pence.
In addition, net debt of £9.8 million will be assumed by the Company on Completion, which includes shareholder debt of £8.4 million. The Company will procure that the shareholder debt is repaid by the Research Views Group to Michael Danson and his associated companies on completion (such repayment to be funded by the Company’s existing banking facilities).
Commenting on the Acquisition, Bernard Cragg, Chairman of the Independent Committee of GlobalData, said: “This transaction consolidates the Group’s transformation into a global data and analytics business with a truly differentiated multi-industry offering. It is consistent with our focusing on data and analytics by strengthening our existing industry offerings and expanding the industries we cover.”
Completion is expected to occur following the General Meeting on 24 April 2018.
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