Acquisition of Geotek

Judges Scientific, the group focused on acquiring and developing companies in the scientific instrument sector, announces that it has today acquired the entire issued share capital of Geotek Holding Limited and Geotek Coring Limited (together "Geotek" or the "Acquisition"), a world leading developer and manufacturer of instruments used to measure and log various characteristics of geological cores and a supplier of related services. The Board expects the Acquisition to be materially earnings enhancing in the current financial year. 

The total consideration for Geotek is up to a maximum of £80 million plus excess cash, consisting of an initial cash consideration of £45 million, paid on completion and further contingent consideration of up to £35 million to be satisfied through a mixture of cash and new ordinary shares in the Company. The cash consideration for the Acquisition is being financed from a new £100 million club facility led by Lloyds Banking Group plc alongside Santander UK plc and Bank of Ireland.