News blog

Advanced Power Components

• BY: Andrew Hore |
• POSTED: 23/05/2013 |

Advanced Power Components (APC) is buying out the minority shareholders in energy saving technologies supplier Minimise. 

Last August, APC increased its stake in Minimise to 51% and it is acquiring the remaining 49% for £850,000 in cash and £3.83m in shares at 31.75p each. A dividend based on the distributable reserves of Minimise at the end of August 2013 will be paid by the end of the year. That should not be more than £125,000. The acquisition values Minimise at £9.67m and it will make the group less complicated. Shareholders will vote on the acquisition at a meeting on 21 June.

Minimise lost money in 2011-12 but it appears to have moved into profit in the six months to February 2013.

Net debt was £1.73m at the end of February 2013.  APC is raising £3m at 30p a share, which will pay the cash element of the acquisition and help to fund additional cleantech acquisitions.

At 31.75p a share, APC is valued at £9.7m.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFMay2013_44.pdf