- Totally has made the first deferred payment of £172,101 under the terms of its of Premier Physical Healthcare in March.

The maximum consideration for the acquisition of Premier was £6.75 million, based on its financial performance. The initial consideration, payable to Premier on completion, on 1 April, was satisfied through a cash payment of £371,974, equal to seven times the EBITDA of Premier for the period commencing 1 April 2015 and ending 31 January 2016.

Under the acquisition agreement entered into between Totally and the vendors of Premier on 14 March, there are a further four potential deferred payments payable between 2016 and 2019, based on the financial performance of Premier.

Totally said today that the first deferred payment has been made for the first earn-out period ended 31 March. It said this has been in line with the board's expectations and resulted in a payment of £172,101 in cash being made today to the vendors of Premier.

At 2:44pm: [LON:TLY] Totally PLC share price was -1.5p at 57.5p

Story provided by