St. James House PLC said it completed the acquisition of 100% of the issued share capital of Another Ops Ltd., a prepaid payment card and merchant solutions provider.
St. James will acquire all 350,000 ordinary shares of £1.00 each in Another Ops, of which an aggregate amount of £210,000 is unpaid, for a consideration of £5. Another Ops has an existing trading relationship with St. James and has net liabilities to the group amounting to about £140,000 as of the date of the acquisition.
Christian Russell, the vendor and CEO of the company, will remain in office, and the four other employees of the company will be retained. The existing directors of Another Ops, other than Russell, have resigned and a new director has been appointed by the board, with another to be appointed in due course.