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IPH Announces Settlement of Acquisition of Baldwins Intellectual Property

16 Oct 2020  |  15:39:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Settlement of Acquisition of Baldwins Intellectual Property

IPH announced that AJ Park has settled the acquisition of NZ intellectual property firm Baldwins Intellectual Property (Baldwins). The Company updated that on settlement it issued 335,016 new shares at an issue price of A$7.305 each to the sellers (with those shares being escrowed for two years). This represents the full issue of shares related to this acquisition. As reported, total shares of the Company on issue following this transaction are 216.2m shares. In addition, a cash payment of NZ$4.1m (A$3.8m) was made to the sellers of Baldwins on settlement. The Company further updated that the issue of shares and cash payment on settlement represent 90% of the total initial consideration payable for the acquisition.

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