City of London completes £1.4m Acorn to Oaks acquisition

As previously agreed, this consideration will be made up of a combination of new shares in City of London and zero-coupon loan notes that can be converted into new shares in the company at a later date. In a statement, City of London said Acorn to Oaks founders Jason and Claire Oakley, who control 92% of the shares in the advice firm, would receive zero-coupon loan notes that can be converted into new City of London shares following the preparation of the annual accounts for the financial year-ending 31 March 2021. The consideration payable to the other Acorn to Oaks shareholders will...