Aukett Swanke Group Plc (AIM:AUK) acquired Tr Control Solutions Limited for £0.36 million on October 18, 2023. The total consideration will be satisfied by issuing to the vendors of 17,800,000 new ordinary shares, and £89,000 in cash. Half of the cash consideration is payable on completion, with the remaining £44,500 payable on the first anniversary of completion.

The Consideration Shares are subject to a 12-month lock-in, followed by an orderly market arrangement for a further 12 months. For the year ended 31 October, 2022, TRCS reported revenues of £473,000 and a loss after tax of £33,000. Strand Hanson Limited acted as a financial advisor to Aukett Swanke Group Plc.