DGAP-News

MBH CORPORATION PLC ANNOUNCES FIRST ACQUISITIONS TO ESTABLISH NEW PROPERTY VERTICAL IN THE UNITED STATES

DGAP-News: MBH Corporation Plc / Key word(s): Investment MBH CORPORATION PLC ANNOUNCES FIRST ACQUISITIONS TO ESTABLISH NEW PROPERTY VERTICAL IN THE UNITED STATES 02.09.2020 / 08:15 The issuer is solely responsible for the content of this announcement. MBH CORPORATION PLC ANNOUNCES FIRST ACQUISITIONS TO ESTABLISH NEW PROPERTY VERTICAL IN THE UNITED STATES 2 September 2020, London - MBH Corporation plc (MBH), a diversified investment holding company, continues its agglomeration strategy with its 6th and 7th acquisition 2020. The EPS accretive 100% acquisitions of the US based companies 'Meeting of the Minds' (MOTM) and 'Everyday Realty Services' (ERS) bring MBH's portfolio to a total of 17 companies, and at the same time establish a new property vertical for the group. Meeting of the Minds was established 12 years ago and has grown to become the largest real estate investor association and investor mentoring programme in New York. Everyday Realty Services, a real estate brokerage and commercial funding company, trades under the Exit Realty franchise and Everyday Funding brands. For the year ended 31 December 2019, MOTM and ERS generated unaudited consolidated revenues of USD 1.23m and an EBIT of USD 0.63m. This latest acquisition takes the pro-forma revenues of the MBH Group portfolio companies up to GBP 85.5m based on its financial year 2019 results. The total consideration for the two companies is estimated to be between USD 2.9m to 3.5m. The majority of the consideration will be paid in unlisted bonds in MBH Corporation plc and would convert to listed bonds upon completion of audited accounts. The terms of the listed and unlisted bonds are as follows: 5 year terms and principal payable on maturity 5% interest per annum payable semi-annually   Both entities are headed by CEO Melissa J. Shea. She has been a real estate investor and business owner since 2005 and in that time has led over 500 renovation projects and brokered over USD 100m in real estate transactions. Additionally, Melissa has mentored over 150 investors and is director of not for profit 'clear the way supportive housing', helping to provide emergency shelters and affordable housing especially for abused victims of domestic violence and those with disabilities.