Digital Workforce Services Plc has completed the closing of e18 Consulting Ltd. acquisition and decided on a directed share issue to the seller

Digital Workforce Services Plc has completed the closing of e18 Consulting Ltd. acquisition and decided on a directed share issue to the seller

Digital Workforce Services Plc. announced on 18 July 2025 the acquisition of the entire share capital of the UK-based e18 Consulting Ltd. from Louise Wall, founder of the company.  All closing conditions of the transaction have been fulfilled and on 1 October 2025, the parties completed the transaction in accordance with the sales and purchase agreement.

Enterprise value (EV) for the acquisition is 5 million pounds (GBP). Cash consideration of GBP 4.6 million (approximately EUR 5.3 million), based on 80 % of the EV and adjustment for transferring balance sheet, is paid immediately to the seller in cash. Additionally, 20% of EV (GBP 1 million, approximately EUR 1.2 million) is paid in shares, through a directed share issue to the seller.

Additional consideration, tied to the development of e18 Consulting Ltd.’s EBITDA levels of the next two financial years, will be paid annually after each annual period ending on 31 August. Maximum amount of additional consideration is GBP 6.3 million (approximately EUR 7.3 million at current exchange rates). 80% of the additional consideration is payable in cash, 20% in company shares.

On 1 October 2025, the Board of Directors of Digital Workforce Services Plc has resolved on a directed share issue to Louise Wall. In the directed share issue, a maximum of 342,477 new shares were offered to her for subscription in accordance with the terms of the share sale and purchase agreement. In the issue, a total of 342,477 new shares were subscribed with the total subscription price of 1.15 million euros. Subscription price was 3.36 euros per share. The subscription price is based on the volume-weighted average price of Digital Workforce’s share during the period from 19 June 2025 to 17 July 2025. The subscription price of the shares will be recorded in the company’s reserve for invested unrestricted equity.

The new shares will be notified for registration with the Trade Register on or about 1 October 2025. The new shares will be entered into the book-entry system maintained by Euroclear Finland Ltd as soon as possible after registration. They are intended to be admitted to public trading on the Nasdaq First North Growth Market Finland, maintained by Nasdaq Helsinki Ltd, together with the old shares, as soon as possible after the shares have been registered. The share issue resolution is based on the authorization given by the Annual General Meeting on 10 April 2025.

 

Contact information:

Digital Workforce Services Plc

Jussi Vasama, CEO

Tel. +358 50 380 9893

 

Laura Viita, CFO

Tel. +358 50 487 1044

Investor relations | Digital Workforce

 

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