Sumus acquires 50% of IFA Deverill Black

The consideration of £750,000 will be satisfied by a cash payment of £525,000 and £225,000 payable in 512,528 new Sumus ordinary shares. Since its incorporation in 2001, Deverill Black has been and will remain an Appointed Representative firm of the Falcon Group, Sumus’s wholly owned subsidiary. Iain Kerr Black, the principal of Deverill Black, was a non–executive director of Sumus between its admission to AIM in February 2005 and December 2006. Following the sale, he and his wife Jane Black will retain 49.9% interest share capital of Deverill Black and will continue to focus on growing...