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Judges Scientific Acquires Remaining Minority Stake in Bordeaux Subsidiary.

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Vincent

MANews-(C)2009-2022

UK-based scientific instrument group Judges Scientific plc has acquired the remaining minority interest in its majority owned subsidiary Bordeaux acquisition Ltd. bringing its shareholding from 88% to 100%, the group said.

In 2011, Judges purchased Deben UK Ltd. through Bordeaux, a newly created buy-out vehicle; Bordeaux was owned by Judges and the Deben UK vendors.

In 2017, Bordeaux acquired Oxford Cryosystems Ltd. and Judges increased its stake to 75.5%; this was increased to 88% in February 2021.

Judges has now purchased the final 12% of Bordeaux's issued share capital for a consideration of USD 2.1m, based on an enterprise value of USD 12.6m for 100% of Bordeaux plus excess cash. In 2021, Bordeaux generated USD 2.7m adjusted EBIT.

GBP 2m of the consideration will be settled through the issue of 29,197 new Judges ordinary shares issued at a price of GBP 68.50 per share, equal to the mid-market price at close of business on Friday 24 June 2022, with the balance paid in cash.

Judges Scientific plc (AIM: JDG), is a group focused on...

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