Imagesound Sold For GBP 10.23M
Adrian J Cotterill, Editor-in-Chief
It was announced earlier today to the finance markets that music provider Imagesound plc was acquired, well sort-of, by Concentia Capital Ltd (a newly-incorporated company which has been formed for the purposes of making the offer).
Vespa Capital, an independent private equity investor, and the most senior Imagesound management are taking shares and ownership in the new / same business.
All a bit weird perhaps to the untrained eye but this is a neat way of (a) putting a value on the company and (b) wrapping up the debacle that was Imagesound’s short lived life on the UK’s Alternative Investment Market (AIM) and mopping up outstanding shares we believe.
This is good news for Imagesound (and for the earlier smaller shareholder whose shares were purchased for 16 pence each) and makes the way clear for future growth and possibly acquisitions.
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