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The Marygold Companies Close Acquisition of Tiger Financial and Asset Management.

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MANews-(C)2009-2022

US-based holding company The Marygold Companies, Inc. (NYSE American: MGLD) (formerly, Concierge Technologies, Inc.) has closed acquisition of UK based investment adviser Tiger Financial and Asset Management Ltd for GBP 1.5m (approximately USD 1.9m) in cash, plus net current assets estimated to be GBP 863,977 (approximately USD1.1 m) for a total aggregate price of approximately USD 3m, the company said.

The purchase price consideration is to be paid in three installments with approximately USD1.7 m at closing, and the remainder of approximately USD 1.3m paid in approximately equal installments on December 31, 2022, and December 31, 2023.

(Conversion to US currency noted above is estimated and averaged as of June 13, 2022.)

The transaction was consummated through Marygold and Co. Ltd., a London-based business unit formed in 2021, and wholly owned subsidiary of the company.

Based in Boughton, Northampton, England, Tiger has approximately GBP 42m (approximately USD 53m) in assets under advice.

The firm's core business is managing clients' financial wealth across a diverse product range, including cash, national savings, individual savings accounts, unit trusts, insurance company products such as investment bonds and other investment vehicles.

Tiger's founder and former owner, Keith Halford, and his team will remain...

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