Arc acquires IFA Throgmorton

The deal, Arc's third IFA takeover, comprises of £800,000 in cash and £800,000 in Arc capital – through 12,628,256 new ordinary shares at 0.5p. However, a proportion of the consideration is deferred and payable subject to TFS achieving certain performance targets. Should TFS exceed the targets, additional consideration of up to a £100,000 may become payable. TFS has an estimated £85m funds under advice and its profit before tax for the year to 31 December 2007 was to £130,390, on turnover of £1,334,000. Its net assets at end 2007 were £364,000. As a result of the takeover, Arc will have ...