News blog

IQ Holdings

  • BY: Andrew Hore |
  • POSTED: 02/02/2009 |

IQ Holdings completed the reverse takeover of three market research services businesses from Aim-quoted Media Square on 30 January.

Research and consultancy services provider IQ originally planned to pay £750,000 in cash, £250,000 in shares and up to £500,000 in deferred consideration subject to net asset value adjustment. The cash was supposed to come from a share placing raising at least £750,000. IQ raised £600,000 at 0.1p a share from the placing and it has changed the payment to reflect this.

IQ has paid £600,000 in cash and £300,000 in shares to Media Square - at the placing price. The other £100,000 of initial consideration is payable in 19 months. The interest charge is 10% a year.

The expenses of the placing and deal are £467,000.

Chief executive Julian Green loaned £4,000 to IQ and John Green loaned £40,000. These loans have been converted to shares at the placing price.

The businesses acquired are all project-based and so their revenues can be lumpy. The Wire is a computer-assisted telephone interviewing and data collection business. Viewpoint Field recruits people for surveys, while Viewpoint Studios provides facilities for focus groups.

The businesses that have been acquired generated £2.21m in revenues and profits of £109,000 in the six months to August 2008. They were loss-making in the year to February 2008.

At 0.18p a share, which values IQ at £2.13m. 

© 2021 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Browse by issue
All issues
Popular tags
All tags

betbrokers, financial, gold, health, leisure, media, mobile, resources, services, technology

AIM Micro feeds

Keep up to date with articles published at AIMMicro.com. Subscribe to AIM Micro RSS Feeds