Anite deal boosts wary investors

12 April 2012

INVESTORS piled into Anite after the IT consultant unveiled plans to pay for previous acquisitions by issuing new shares priced way above their current market value.

The City had feared that the share payments, triggered when the acquisitions hit performance targets, would dilute existing investors. The stock closed at 22p on Thursday, a year low. It peaked at 179 1/5p in January.

But Anite said it would issuing 28.28m shares at 70.7p to the management of Calculus, which it bought in December 2000, and 2.21m shares at 122.1p each to the managers of Parsec, acquired in August 2001.

Anite shares jumped 8 1/2p to 30 1/2p in early trade.

Create a FREE account to continue reading

eros

Registration is a free and easy way to support our journalism.

Join our community where you can: comment on stories; sign up to newsletters; enter competitions and access content on our app.

Your email address

Must be at least 6 characters, include an upper and lower case character and a number

You must be at least 18 years old to create an account

* Required fields

Already have an account? SIGN IN

By clicking Create Account you confirm that your data has been entered correctly and you have read and agree to our Terms of use , Cookie policy and Privacy policy .

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Thank you for registering

Please refresh the page or navigate to another page on the site to be automatically logged in