FairFX Group Plc (AIM:FFX) acquired 80% stake in Q Money Limited for £1.2 million from Tony Quirke on January 19, 2017. The initial consideration payable for the acquisition is £0.43 million to be satisfied by £0.11 million payable from existing cash and by the issue of 0.72 million new ordinary shares of FairFX. Further consideration of up to £0.83 million may be payable to Q Money over the next 3 years, subject to the achievement of certain performance milestones and will be satisfied by the issue of new ordinary shares if FairFX. As on May 16, 2019, The Consideration Shares will be subject to the same five-year orderly market period as the initial consideration shares issued, which commenced on 19 January 2017. Tony Quirke is to be issued with 0.82 million shares which will be subject to a 12-month lock-in period following admission. As a result of these arrangements the vendors of Q Money are no longer entitled to the 20% economic interest. And as on May 16, 2019, FairFX has agreed to pay £0.5 million as deferred consideration by issuing 1.15 million shares at a price of £0.435 each. And further and final consideration of up to £0.325 million may be payable in future, subject to the achievement of a final performance condition in 2020 and a further announcement will be made in due course. The vendors of Q Money will retain an aggregate 20% economic interest in Q Money entitling them to 20% of any dividends paid by Q Money to the Group and/or 20% of any sale proceeds of Q Money should it be sold. And as a result of this, the consideration will become £1.9 million. As part of the Acquisition, Tony Quirke will become Chief Financial Officer of FairFX. Completion of the acquisition is conditional upon the admission of the initial consideration shares to trading on AIM. Max Hartley and Callum Davidson of Cenkos Securities acted as the financial advisors and Charles Goodwin of Yellow Jersey PR acted as the public relations advisor for FairFX. FairFX Group Plc (AIM:FFX) completed the acquisition of Q Money Limited from Tony Quirke on January 19, 2017.