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Gateley said it had approved an earn-out payment to Kiddy & Partners on a cash and shares business after the latter met performance targets.
In accordance with the acquisition agreement of Kiddy & Partners, a total earn-out payment of £1.25m, split equally in cash and shares, had been approved by in respect of Kiddy's trading performance for the period from 1 Jan 2018 to 30 April 2019.
The company could yet fork out further earn-out payments should Kiddy's trading performance for the twelve month periods to 30 April 2020 and 30 April 2021 meet targets.
'The aggregate maximum remaining payment outstanding under the acquisition agreement is £364,676. The earn-out consideration is split equally between cash and shares,' the company said.
At 8:27am: (LON:GTLY) Gateley Hldgs Plc share price was +3p at 166p