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MBH Corporation Plc, GB00BF1GH114

MBH Corporation Plc, GB00BF1GH114

10.01.2020 - 08:02:11

MBH Corporation plc completes Samuel Hobson House acquisition and establishes new Health industry vertical

The acquisition of Samuel Hobson includes the property valued at GBP1.8 million. The care home is expected to generate an annual EBIT of approximately GBP145,000. The total consideration for the acquisition is GBP1.95 million which is settled, as follows:

a loan note of GBP1.8 million (non interest bearing and not payable for 3 years); and GBP150,000 to be 100% settled by way of issuance of MBH shares. The price is set at EUR1.47 per share.

Callum Laing, CEO of MBH, commented: "I am very pleased to be opening our fourth industry vertical, 'Health'. Not only does this acquisition showcase the diversity in industry that our agglomeration model appeals to, we believe it will be the first of many health related business joining us over the next few years." Vicky Smith, Principal Care Manager of Samuel Hobson House commented: "Samuel Hobson House is really pleased to be a part of MBH. As a business, we believe this is a fantastic move for us and being part of the agglomeration model will bring benefits to our organisation and the group." MBH expects that the total number of shares on issue after completion of this acquisition will be between the range of 61 million and 66 million shares. This is subject to the finalisation of the audits for KS Training Ltd, UK Sports Training Ltd, Asia Pacific Energy Ventures Pte Ltd and Guildprime Specialist Contracts Ltd.[1]https://www.grantthornton.co.uk/globalassets/1.-member-firms/united-kingdom/pdf/documents/care-homes-for-the-elderly-where-are-we-now.pdf

About MBH

MBH Corporation plc is a diversified investment holding company, listed on the Frankfurt and Dusseldorf Stock Exchanges. The company acquires small to medium enterprises across multiple geographies and sectors that are well established, profitable and looking to scale. By leveraging the Agglomeration strategy, MBH Corporation plc is able to create substantial shareholder value through the consistent and accretive acquisition of excellent companies.

www.mbhcorporation.comContacts for IR and media enquiries:

MBH Corporation plc, Charlotte Williams, charlotte@unity-group.com, +44 (0)770 396 3953

Kirchhoff Consult AG, Nicole Schüttforth, nicole.schuettforth@kirchhoff.de, +49 (0)40 609186 64  

10.01.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de

Language: English Company: MBH Corporation Plc Studio 7-9, Royal Patriotic Victoria Building, Joh SW18 3SX London

United Kingdom E-mail: fo@mbhcorporation.com Internet: https://www.mbhcorporation.com/ ISIN: GB00BF1GH114 WKN: A2JDGJ Listed: Regulated Unofficial Market in Dusseldorf, Frankfurt EQS News ID: 950545   End of News DGAP News Service

950545  10.01.2020 

@ dgap.de