Switzerland-based sports consultancy TSE reversed into Sandford for an initial £750,000 in cash and 90m shares in August 2007. Deferred consideration of £200,000 and up to 24m shares is payable over the three years after the deal. The shares were trading at 0.85p each before the acquisition was announced so the initial consideration was valued at £1.92m. Sandford was a cash shell formerly known as Media Steps.
Sector: Media
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