HML Holdings PLC (AIM:HMLH) agreed to acquire Faraday Property Management Limited for £3.4 million on March 29, 2017. As a part of consideration, HML will pay £2.3 million on a cash and debt free basis as initial consideration. This will be satisfied by transfer of £2.7 million in cash offset against £0.5 million of free cash of Faraday along with issue shares. Also, additional performance related payment of £0.6 million which will be subject to the achievement of certain criteria and will be payable over 24 months from the acquisition date. A part of the consideration will be satisfied by existing cash resources. Faraday reported to have revenues of £1.9 million in 2016. The senior management and Board of Faraday will continue to serve with Faraday and will operate from their offices in Holborn. The transaction is expected to be completed on April 1, 2017. The transaction is expected to be immediately earnings enhancing. Mia Gardner, Jonny Franklin-Adams and Giles Rolls of finnCap acted as financial advisors for HML. James Verstringhe and Jeremy Carey of Tavistock Communications Group acted as public relations advisors for HML. Jim Clark and Daniel Hart of Smith & Williamson acted as a financial advisors to Faraday Property Management Limited. Jonathan Leigh-Hunt, Frances Spooner, Katherine de Souza, Alex Lee and Catherine Thom of Marriott Harrison LLP acted as legal advisor to the shareholders of Faraday Property Management. HML Holdings plc (AIM:HMLH) completed the acquisition of Faraday Property Management Limited on April 1, 2017. As part of consideration, HML issued 0.3 million new ordinary shares at an issue price of £0.4 per share.