Cohort - Going to plan
Cohort has announced that it has increased its holding in EID to 80% from 57% for the additional consideration of €3.97m from existing cash resources and debt facilities. The Portuguese government retains the remaining 20% and this is all in line with its previously announced strategy. EID brings new geographies, a good order pipeline and further growth opportunities. In addition, the company has indicated that it remains on course to meet FY18 expectations. HY18 results will be published on 13 December when we will adjust our forecasts for the increased holding.Cohort is a holding company. Co. operates through its subsidiaries: Empresa de Investigacao e Desenvolvimento de Electronica, S.A., which is engaged in the fields of electronics, tactical and naval communications, command and control; MASS Consultants Limited, which is an electronic warfare operational support, cyber security, secure ICT networks and support to operations business serving customers primarily in defense and security markets; and Marlborough Communications Limited, which is a supplier of electronic communications, information systems and signals intelligence technology to the defense and security sectors.
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