MBH CORPORATION PLC ACQUIRES ASHLEY DAVID TAXIS TO ESTABLISH NEW TRANSPORTATION VERTICAL

DGAP-Ad-hoc: MBH Corporation Plc / Key word(s): Investment
MBH CORPORATION PLC ACQUIRES ASHLEY DAVID TAXIS TO ESTABLISH NEW TRANSPORTATION VERTICAL

17-Aug-2020 / 08:22 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

MBH CORPORATION PLC ACQUIRES ASHLEY DAVID TAXIS TO ESTABLISH NEW TRANSPORTATION VERTICAL

London, 17 August 2020 - MBH Corporation plc (MBH), a diversified investment holding company, has acquired 100 % of Driven by Riide Ltd (trading as Ashley David Taxis (ADT)), a taxi company based in the UK. For the 11 months ended April 30, 2020, the company generated audited revenues of GBP 3.9 million and earnings before interest, tax, depreciation and amortisation (EBITDA) of GBP 0.8 million. With the acquisition of Driven by Riide, MBH is establishing a sixth business segment "transportation" in addition to education, construction services, engineering services, health and leisure. With this acquisition, MBH's pro forma revenues based on the results of the financial year ended 31 December 2019 will increase to GBP 85.4 million.

Driven by Riide Ltd. was founded in 2002 and owns 150 vehicles and employs 600 drivers. The fleet is fully cloud-based and 70% of bookings are made through a customer app developed in-house.

The total consideration for the acquisition is approximately GBP 3.4m of which the majority is settled by way of a listed bond in accordance with the MBH bond programme with the following terms:

5-year maturity with principal payable at maturity; and
5% coupon rate per annum payable semi-annually

Contact: MBH Corporation plc, Charlotte Williams, charlotte@unity-group.com, +44 (0)770 396 3953

Information and Explanation of the Issuer to this News:

About MBH

MBH Corporation plc is a diversified investment holding company, listed on the Frankfurt and Dusseldorf Stock Exchanges. The company acquires small to medium enterprises across multiple geographies and sectors that are well established, profitable and looking to scale. By leveraging the Agglomeration strategy, MBH Corporation plc is able to create substantial shareholder value through the consistent and accretive acquisition of excellent companies.

www.mbhcorporation.com

About Driven by Riide
Driven by Riide Group is predominantly a taxi service with over 600 drivers in the East Midlands area. The group was established in 2002.

http://www.adt-taxis.co.uk/

Contacts for IR and media enquiries:

MBH Corporation plc, Charlotte Williams, charlotte@unity-group.com, +44 (0)770 396 3953

Kirchhoff Consult AG, Anika Heske, anika.heske@kirchhoff.de, +49 (0)40 609186 39

17-Aug-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language:	English
Company:	MBH Corporation Plc
	Studio 7-9, Royal Patriotic Victoria Building, Joh
	SW18 3SX London
	United Kingdom
E-mail:	fo@mbhcorporation.com
Internet:	https://www.mbhcorporation.com/
ISIN:	GB00BF1GH114
WKN:	A2JDGJ
Listed:	Regulated Unofficial Market in Dusseldorf, Frankfurt
EQS News ID:	1119175


End of Announcement	DGAP News Service

1119175 17-Aug-2020 CET/CEST

Research & Analysis

MBH CORPORATION PLC ACQUIRES ASHLEY DAVID TAXIS TO ESTABLISH NEW TRANSPORTATION VERTICAL

Get your free Demo today