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On 1 June 2 0 1 0 , Premier acquired 8 0 % of the equity share capital of Sanford. The consideration consisted of two

On 1 June 2010, Premier acquired 80% of the equity share capital of Sanford. The consideration consisted of two elements: a share exchange of three shares in Premier for every five acquired shares in Sanford and $800,000 in cash. The share issue has not yet been recorded by Premier. At the date of acquisition shares in Premier had a market value of $5 each.
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