Aferian pays contingent consideration on acquisition of Nordija

Video streaming technology company Aferian announced on Thursday that part of the contingent consideration for the May 2021 acquisition of Nordija has become payable.

The AIM-traded firm said that, after meeting the targets for contingent consideration to date, it would pay €0.5m (£0.42m), of which €0.1m would be settled in cash.

It said the remaining €0.4m would be settled through the issue of 222,430 new shares at the previously-agreed price of 148p each.

“The contingent consideration shares have a lock-in period of 24 months from the date of the original acquisition,” the board said in its statement.

“At this point there remains a final amount of contingent consideration for €0.1m which is expected to be satisfied in the second half of the 2022 financial year, at which point a further announcement will be made.”

At 1515 BST, shares in Aferian were down 2.14% at 137p.