- Commercial kitchen services supplier Filta Group said it had agreed to acquire grease and drain management specialist Watbio Holdings for up to £8.1m.

The sum would include a minimum £6.9m payment, subject to adjustment for working capital movements of up to a maximum further £1.2m.

It would be paid with up to £7.3m in cash and £0.8m in Filta shares.

The cash component would be funded from the proceeds of a share issue to raise £3.0m, a new £4.0m five-year term loan facility and from existing bank and cash in hand.

Shares in the placing would be issued at 200p each, an 8.1% premium to their closing price on Tuesday.

At 1:13pm: [LON:FLTA] Filta Group Holdings Plc share price was +8p at 193p

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