Aankondiging • Apr 23
Petards Group plc, Annual General Meeting, May 20, 2026 Petards Group plc, Annual General Meeting, May 20, 2026. Location: the county club, 158 high street, guildford, surrey, gu1 3hj, United Kingdom Board Change • Apr 19
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Non-Executive Director Geraint Charles Davies was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. New Risk • Apr 16
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 40% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 44% per year over the past 5 years. Market cap is less than US$10m (UK£6.98m market cap, or US$9.45m). Minor Risk High level of debt (40% net debt to equity). Reported Earnings • Apr 16
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: UK£0.007 loss per share (improved from UK£0.019 loss in FY 2024). Revenue: UK£14.9m (up 24% from FY 2024). Net loss: UK£406.0k (loss narrowed 64% from FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 19%. Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. New Risk • Apr 06
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 34% per year over the past 5 years. Market cap is less than US$10m (UK£6.83m market cap, or US$9.01m). Minor Risk Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). New Risk • Dec 02
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of British stocks, typically moving 9.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 34% per year over the past 5 years. Market cap is less than US$10m (UK£6.07m market cap, or US$8.00m). Minor Risk Share price has been volatile over the past 3 months (9.7% average weekly change). Reported Earnings • Sep 23
First half 2025 earnings released: UK£0.005 loss per share (vs UK£0.016 loss in 1H 2024) First half 2025 results: UK£0.005 loss per share (improved from UK£0.016 loss in 1H 2024). Revenue: UK£7.86m (up 78% from 1H 2024). Net loss: UK£312.0k (loss narrowed 66% from 1H 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 77 percentage points per year, which is a significant difference in performance. Aankondiging • Sep 12
Petards Group plc to Report First Half, 2025 Results on Sep 18, 2025 Petards Group plc announced that they will report first half, 2025 results on Sep 18, 2025 Aankondiging • Jul 02
Petards Group plc, Annual General Meeting, Aug 06, 2025 Petards Group plc, Annual General Meeting, Aug 06, 2025. Location: the county club, 158 high street, surrey gu1 3hj, guildford United Kingdom Reported Earnings • Jun 24
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: UK£0.019 loss per share (in line with FY 2023). Revenue: UK£12.0m (up 28% from FY 2023). Net loss: UK£1.13m (loss widened 7.3% from FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 3.2%. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 104 percentage points per year, which is a significant difference in performance. New Risk • Apr 19
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 20% per year over the past 5 years. Market cap is less than US$10m (UK£4.33m market cap, or US$5.75m). Minor Risk Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). New Risk • Feb 20
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of British stocks, typically moving 7.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 20% per year over the past 5 years. Market cap is less than US$10m (UK£4.86m market cap, or US$6.14m). Minor Risk Share price has been volatile over the past 3 months (7.0% average weekly change). Aankondiging • Jan 21
Petards Group plc Announces Board Changes Petards announced that having served as a director for over ten years, Paul Negus is stepping down from the Board with immediate effect. The Board would like to thank Paul for his contribution to the business over the past ten years and wishes him every success in the future. Reported Earnings • Oct 02
First half 2024 earnings released: UK£0.016 loss per share (vs UK£0.005 loss in 1H 2023) First half 2024 results: UK£0.016 loss per share (further deteriorated from UK£0.005 loss in 1H 2023). Revenue: UK£4.42m (flat on 1H 2023). Net loss: UK£928.0k (loss widened 208% from 1H 2023). Revenue is forecast to grow 34% p.a. on average during the next 2 years, compared to a 8.5% growth forecast for the Software industry in the United Kingdom. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 102 percentage points per year, which is a significant difference in performance. New Risk • Sep 27
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of British stocks, typically moving 6.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 2.9% per year over the past 5 years. Market cap is less than US$10m (UK£6.22m market cap, or US$8.33m). Minor Risks Share price has been volatile over the past 3 months (6.8% average weekly change). Shareholders have been diluted in the past year (7.4% increase in shares outstanding). Aankondiging • Jun 26
Petards Group plc, Annual General Meeting, Jul 25, 2024 Petards Group plc, Annual General Meeting, Jul 25, 2024. Location: the county club, 158 high street, surrey, gu1 3hj, guildford United Kingdom New Risk • Jun 16
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 7.4% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 2.9% per year over the past 5 years. Market cap is less than US$10m (UK£4.25m market cap, or US$5.39m). Minor Risk Shareholders have been diluted in the past year (7.4% increase in shares outstanding). New Risk • Jun 14
New major risk - Revenue and earnings growth Earnings have declined by 2.9% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 2.9% per year over the past 5 years. Market cap is less than US$10m (UK£3.96m market cap, or US$5.03m). Aankondiging • Jun 14
Petards Group plc agreed to acquire Affini Technology Limited for £2.8 million Petards Group plc (AIM:PEG) agreed to acquire Affini Technology Limited for £2.8 million on June 13, 2024. Under the terms, £2.8 million will be paid in cash and 4,176,810 new shares of Petards Group plc (AIM:PEG) will be issued. The Cash Consideration payable at Completion is to be funded from existing cash resources of approximately £1.7 million and £0.8 million from the Company's unutilised bank overdraft facility provided by Santander UK plc. WH Ireland Limited acted as financial advisor to Petards Group plc. For the year ended, Affini had revenues of £5.604 million, EBITDA of £0.652 million, operating profit of £0.401 million and net asset of £2.276 million. New Risk • Apr 14
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (11% average weekly change). Market cap is less than US$10m (UK£3.82m market cap, or US$4.75m). Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Profit margins are more than 30% lower than last year (1.3% net profit margin). New Risk • Jan 26
New major risk - Revenue and earnings growth Earnings have declined by 2.9% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (14% average weekly change). Earnings have declined by 2.9% per year over the past 5 years. Market cap is less than US$10m (UK£2.12m market cap, or US$2.70m). Minor Risk Profit margins are more than 30% lower than last year (1.3% net profit margin). Board Change • Jan 02
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Non-Executive Director Geraint Charles Davies was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Aankondiging • Dec 19
Petards Group plc Announces Board Changes Petards announced that Terry Connolly, Non-Executive Director, has notified the Board of his intention to retire from the Board with effect from 31 December 2023. On Terry's retirement, John Wakefield will be appointed Senior Independent Non-Executive Director and Geraint Davies will be appointed Chair of the Audit Committee. New Risk • Dec 06
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of British stocks, typically moving 16% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (16% average weekly change). Market cap is less than US$10m (UK£1.98m market cap, or US$2.49m). Minor Risk Profit margins are more than 30% lower than last year (1.3% net profit margin). Aankondiging • Nov 23
Petards Announces Appointment of Geraint Davies, as an Independent Non-Executive Director Petards announced the appointment of Geraint Davies, as an independent Non-Executive Director with immediate effect. Geraint Davies is a Fellow of the Institute of Chartered Accountants with over 30 years' experience, working with global national and local organizations in the private and public sector. Prior to his appointment, Geraint held senior leadership roles in EY's practices in the Channel Islands, the UK, and Europe, most recently in Malta. He has also previously held roles with PwC and Deloitte. New Risk • Oct 06
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of British stocks, typically moving 9.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (UK£3.25m market cap, or US$3.98m). Minor Risks Share price has been volatile over the past 3 months (9.2% average weekly change). Profit margins are more than 30% lower than last year (1.3% net profit margin). Reported Earnings • Sep 28
First half 2023 earnings released: UK£0.005 loss per share (vs UK£0.002 profit in 1H 2022) First half 2023 results: UK£0.005 loss per share (down from UK£0.002 profit in 1H 2022). Revenue: UK£4.40m (down 20% from 1H 2022). Net loss: UK£301.0k (down 398% from profit in 1H 2022). Revenue is forecast to grow 8.0% p.a. on average during the next 2 years, compared to a 8.3% growth forecast for the Software industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 74% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. New Risk • Sep 26
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 1.9% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 1.9% per year for the foreseeable future. Market cap is less than US$10m (UK£3.39m market cap, or US$4.13m). Aankondiging • May 20
Petards Group plc, Annual General Meeting, Jun 14, 2023 Petards Group plc, Annual General Meeting, Jun 14, 2023, at 10:00 Coordinated Universal Time. Location: County Club, 158 High Street, Guildford Surrey United Kingdom Reported Earnings • May 09
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: EPS: UK£0.009 (down from UK£0.015 in FY 2021). Revenue: UK£10.9m (down 20% from FY 2021). Net income: UK£524.0k (down 39% from FY 2021). Profit margin: 4.8% (down from 6.4% in FY 2021). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 3.8%. Earnings per share (EPS) also missed analyst estimates by 39%. Revenue is forecast to grow 9.6% p.a. on average during the next 2 years, compared to a 8.2% growth forecast for the Software industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 92% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Aankondiging • Feb 02
Petards Group plc Appoints of John Wakefield as an Independent Non-Executive Director, Chair of the Nominations Committee, Member of Audit and Remuneration Committees Petards Group plc announced the appointment of John Wakefield, as an independent Non-Executive Director with immediate effect. John is an experienced quoted company director and corporate adviser. He is currently non-executive chairman of Baron Oil Plc and a non-executive directive of Drumz Plc both of which are listed on AIM and he has previously worked at several nominated adviser firms. He qualified as a solicitor with McKenna & Co (now CMS) before moving into corporate finance, first with Williams de Broe Limited and then at Rowan Dartington & Co. Limited, where he was a founder director and shareholder and head of corporate finance. He was a corporate finance director of WH Ireland Limited from 2009 until 2016. He has been a member of the AIM Advisory Group, chairman of the London Stock Exchange Regional Advisory Group for the South West and chairman of South West Angel and Investor Network Limited (SWAIN) from 2008 until 2016. John will assume the role of Chair of the Nominations Committee and will also be a member of both the Audit and Remuneration Committees. Price Target Changed • Nov 16
Price target decreased to UK£0.14 Down from UK£0.30, the current price target is provided by 1 analyst. New target price is 46% above last closing price of UK£0.092. Stock is down 12% over the past year. The company is forecast to post earnings per share of UK£0.0028 for next year compared to UK£0.015 last year. Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 4 highly experienced directors. 1 independent director (3 non-independent directors). Independent Senior Non-Executive Director Terry Connolly was the last independent director to join the board, commencing their role in 2007. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Sep 16
First half 2022 earnings released: EPS: UK£0.002 (vs UK£0.007 in 1H 2021) First half 2022 results: EPS: UK£0.002 (down from UK£0.007 in 1H 2021). Revenue: UK£5.52m (down 28% from 1H 2021). Net income: UK£101.0k (down 77% from 1H 2021). Profit margin: 1.8% (down from 5.6% in 1H 2021). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 6.3% p.a. on average during the next 2 years, compared to a 9.5% growth forecast for the Software industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 72% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings. Aankondiging • Sep 15
Petards Group plc Provides Earnings Guidance for the Second Half of 2022 Petards Group plc provided earnings guidance for the second half of 2022. The board anticipates the Group will make further progress in the second half year and deliver a satisfactory and cash generative performance for year. Aankondiging • Jun 09
Petards Group plc, Annual General Meeting, Jun 08, 2022 Petards Group plc, Annual General Meeting, Jun 08, 2022. Reported Earnings • May 06
Full year 2021 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2021 results: EPS: UK£0.015 (up from UK£0.01 loss in FY 2020). Revenue: UK£13.6m (up 4.4% from FY 2020). Net income: UK£865.0k (up UK£1.45m from FY 2020). Profit margin: 6.4% (up from net loss in FY 2020). The move to profitability was primarily driven by lower expenses. Revenue missed analyst estimates by 100%. Earnings per share (EPS) exceeded analyst estimates by 40%. Over the next year, revenue is forecast to stay flat compared to a 26% growth forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 22% per year, which means it is significantly lagging earnings. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 3 highly experienced directors. 1 independent director (3 non-independent directors). Independent Senior Non-Executive Director Terry Connolly was the last independent director to join the board, commencing their role in 2007. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Aankondiging • Nov 30
Petards Group plc (AIM:PEG) commences an Equity Buyback Plan for 5,752,822 shares, representing 10% of its issued share capital, under the authorization approved on July 22, 2021. Petards Group plc (AIM:PEG) commences share repurchases on November 29, 2021, under the program mandated by the shareholders in the Annual General Meeting held on July 22, 2021. As per the mandate, the company is authorized to repurchase up to 5,752,822 shares, representing 10% of its issued share capital. The minimum price (exclusive of expenses) which may be paid for each ordinary share is £0.01 and the maximum price which may be paid for each ordinary share is the higher an amount equal to 5% of the average of the middle market quotations for an ordinary share as derived from the London Stock Exchange Daily Official List of the UK Listing Authority for the five business days immediately preceding the day on which the ordinary share is contracted to be purchased and an amount equal to the higher of the price of the last independent trade of an ordinary share and the current highest independent bid for an ordinary share as derived from the London Stock Exchange Trading System.The authority shall expire at the conclusion of the next Annual General Meeting of the company in 2022. Reported Earnings • Sep 24
First half 2021 earnings released: EPS UK£0.007 (vs UK£0.008 loss in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: UK£7.69m (up 8.5% from 1H 2020). Net income: UK£430.0k (up UK£899.0k from 1H 2020). Profit margin: 5.6% (up from net loss in 1H 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 75 percentage points per year, which is a significant difference in performance. Reported Earnings • Jul 01
Full year 2020 earnings released: UK£0.01 loss per share (vs UK£0.003 loss in FY 2019) The company reported a poor full year result with increased losses, weaker revenues and weaker control over costs. Full year 2020 results: Revenue: UK£13.0m (down 17% from FY 2019). Net loss: UK£583.0k (loss widened 202% from FY 2019). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 91 percentage points per year, which is a significant difference in performance. Reported Earnings • May 30
Full year 2020 earnings released: UK£0.01 loss per share (vs UK£0.003 loss in FY 2019) The company reported a poor full year result with increased losses, weaker revenues and weaker control over costs. Full year 2020 results: Revenue: UK£13.0m (down 17% from FY 2019). Net loss: UK£583.0k (loss widened 202% from FY 2019). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 96 percentage points per year, which is a significant difference in performance. Aankondiging • May 28
Petards Group plc Provides Revenue Guidance for the First Half and Full Year 2021 Petards Group plc provided revenue guidance for the first half and full year 2021. The company announced that The first four months of 2021 have started well with all businesses broadly in line or slightly ahead of management expectations in terms of profitability, and revenues are anticipated to be weighted towards the first half of the year.
On 31 December 2020 the Group's order book stood at over £12 million, of which £10 million is forecast to be delivered this year giving the Board confidence that 2021 will prove to be a better year for the Group. Aankondiging • Oct 16
Petards Group plc Wins Contract to Supply Porterbrook Maintenance Limited with Petards Eyetrain System Petards announced that it has been awarded a contract to supply Porterbrook Maintenance Limited with Petards eyeTrain systems. The new contract, which is worth in excess of £1.3 million, is for the supply of Petards eyeTrain systems. These will be fitted to 19 Class 769 Flex trains, which are the UK's first tri-mode trains, capable of running on overhead and third rail electric lines as well as under their own diesel power. The trains will be operated by Great Western Railway and are expected to be introduced on services running between Reading and Gatwick during 2021. Deliveries are expected to be completed during the first quarter of 2021. Reported Earnings • Sep 26
First half earnings released Over the last 12 months the company has reported total losses of UK£727.0k, with earnings decreasing by UK£967.9k from the prior year. Total revenue was UK£13.9m over the last 12 months, down 27% from the prior year. Aankondiging • Jul 31
Petards Group plc (AIM:PEG) acquired Nexus ANPR Smart Box Product Line from Telematics Technologies LLP for £1 million. Petards Group plc (AIM:PEG) acquired Nexus ANPR Smart Box Product Line from Telematics Technologies LLP for £1 million on May 7, 2020. Under the terms of the transaction, Petards will pay £1.05 million. The consideration of £1.05 million comprises an initial amount of £0.08 million, a further cash payment of £0.07 million in six months' time and a deferred cash element of up to £0.9 million. The deferred consideration is payable monthly based upon the monthly sales of NASBox units by Petards up to the lower of 5,000 units or the units sold within the next seven years. The initial amount of £0.08 million is satisfied in cash from Petards' existing cash reserves. The two principals of Telematics Technology joined Petards Group's Traffic Technology team. Mike Coe and Chris Savidge of WH Ireland Limited acted as the financial advisor for Petards Group plc.
Petards Group plc (AIM:PEG) completed the acquisition of Nexus ANPR Smart Box Product Line from Telematics Technologies LLP on May 7, 2020.