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.