Sparks commentary - Earnz

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Earnz (AIM: EARN) – Proposed acquisition of Zero Carbon Group
Published by Finlay Mathers

Earnz has announced the proposed acquisition of Zero Carbon Group (ZCG), an energy efficiency services provider operating across the North of England and the Midlands, for a maximum consideration of £9.5m (£5m initial, £4.5m deferred and linked to EBITDA targets). ZCG generated revenue of £1.7m and EBITDA of £456k in just four months to April 2025, having only commenced major contract trading in January 2025. The deal is being funded through a placing of up to £3.5m at 5.0p per share, a 4.76% discount to the prior close, alongside a retail offer of up to £0.5m. Completion is conditional on shareholder approval at a general meeting on 30 March, with admission expected on 31 March.

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