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In March 2020 Aanco Holdings Limited acquired 100% of the shares of Aanco (UK) Limited. The acquisition has been
accounted for using merger accounting. The nominal value of the consideration amounted to £5,115,000 comprising
payments of £5,100,000 and a share for share exchange of £15,000. £362,000 of the £5,100,000 was paid during the
period, with the remaining £4,738,000 paid after the period end. The £5,095,000 premium paid in relation to the 25%
shareholding has been credited to a Reconstruction reserve.
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