The Board of Directors is delighted to announce an agreement has been reached to acquire the I.P.R of all progressive technology both current and future surrounding the development of our unique E.A.E portal by our subsidiary SBS Technology Ltd.
For uniformity we have adopted this under the ‘Waterfall’ style arrangements in familiarity with the requirements of technology moving so quickly. The composition of the deal is a significant payment in shares of SBS Technology Ltd at the current placing price of £30 per share together with an M.V.G (Market Value Growth) performance related equation going forward.
This values the current transaction at more than £100million and we expect over time to reap very substantive benefits as the exponential growth of technology in this area is engineered and managed by our expert team led by Lee Clarke.
Richard Murray Chairman of SBS Group says:
“We are pleased to confirm agreement has been made for us to have this vital technology to help enable the rapid growth of our company.”