Nasstar completes acquisition of Modrus

Hosted managed and cloud computing services provider Nasstar announced on Friday that following admission to trading to AIM of 17,333,334 consideration shares during the morning, the acquisition agreement has now become unconditional in all respects.

The AIM-traded company had announced plans to acquire per-user hosted managed services provider Modrus on a cash-free, debt-free basis of £13m, made up of £11.7m cash and £1.3m in new Nasstar equity.

“Following admission, the company now has 579,542,287 ordinary shares in issue,” Nasstar’s board said in a statement.

“There are no shares held in treasury. The total voting rights is therefore 579,542,287.

“Shareholders may use this figure as the denominator by which they are required to notify their interest in, or change to their interest in, the company under the Disclosure and Transparency Rules.”