iimia MitonOptimal to merge with Midas

The acquisition values the new entity, Midas Capital, at approximately £140m. iMO will acquire the entire issued share capital of Midas in exchange for the 27,500,129 new ordinary shares, representing about 48% of the enlarged capital. Midas shareholders will collect £59m cash in exchange for the shares. The cash consideration will be funded through a combination of 7,000,000 new ordinary shares at 150p per share, which will raise £10.5m, and £40m through term loan facilities with the Bank of Scotland and iMO’s existing cash resources. A general meeting will be held on 6 March, with 55.4...