Page 252 - Sigmaroc Annual-Report 2023

SIGMAROC ANNUAL REPORT 2023 FINANCIAL REPORT
Notes to the financial statements
38. EVENTS AFTER THE REPORTING DATE
On 4 January 2024 the Company:
• raised gross proceeds of approximately £200 million through the issue of 421,052,631 new Ordinary Shares at a price of 47.5 pence per share;
• refinanced its senior debt with a new €875 million finance facility; and
• completed the acquisitions of Fels Holding GmbH and its subsidiaries, Vapenka Vitošov s.r.o. and Clogrennane Lime Limited for an aggregate consideration of €745 million before customary purchase price deductions. Financial information for each entity acquired shown below:
Fels Holdings GmbH
On 4 January 2024, the Group acquired 100 per cent. of the share capital of Fels Holding GmbH (‘Fels’) and its subsidiaries for a cash consideration of €500.7 million. Fels is registered and incorporated in Germany. Fels is a lime producer with the key operations of extracting limestone from quarries as well further processing the limestone.
The following table summarises the consideration paid for Fels and the values of the assets and equity assumed at the acquisition date.
Initial cash
Deferred settlement Purchase of shareholder loan Deferred consideration
Cash and cash equivalents Trade and other receivables Inventories
Property, plant & equipment Intangible assets Intercompany borrowings Trade and other payables Income tax payable Deferred tax liability Borrowings
Provisions
Total identifiable net assets Provisional goodwill
Total consideration
Total consideration
£’000
249,876
(8,675)
128,059
65,060
434,320
Recognised amounts of assets and liabilities acquired
£’000
26,928
26,103
22,134
447,811
122,619
(128,273)
(55,302)
(5,384)
(93,120)
(43,841)
(10)
319,665
114,655
434,320