News blog

Sagentia Group

  • BY: Andrew Hore |
  • POSTED: 20/05/2010 |

At its AGM technology consultancy Sagentia Group said that revenue and profit for 2010 are ahead of expectations.

This news confirms the trading statement at the time of the placing at 40p a share earlier in the week. Consultancy revenues were 20% higher in the first three months of the year.

At 42p a share, up 1.5p on the day, Sagentia is valued at £9.12m. The placing raised £8m and it was at a premium to the share price prior to its announcement. 

New Sagentia chairman Martyn Ratcliffe acquired 48.4% of Sagentia at 23.8p a share in March. A mandatory offer increased the stake to 48.5%. Ratcliffe has subscribed for just over 2m of the shares in the placing but it will dilute his shareholding.

The cash could be used to finance acquisitions to increase the scale of the business. The acquisition could be in a complementary market or a new business sector.

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