Aferian Plc (AIM:AFRN) agreed to acquire remaining 8% stake in 24i Unit Media B.V. for €3.3 million on August 3, 2021. The amount due to the founders of 24i under the Put Option is €3,305,248 ($3,900,193), which is the same price paid per share as for the 92% shareholding acquired in July 2019. In accordance with the Put Option, it is at Aferian's election as to whether the consideration is settled by either cash or the issue of new ordinary shares in Aferian. Aferian has up to 15 business days from the exercise notice to make this election. It is anticipated that Aferian will pay cash of €1,000,000 ($1,180,000) with the remaining €2,305,348 ($2,720,193) to be settled through the issue of Ordinary Shares. The number of Ordinary Shares to be issued is dependent upon the volume weighted average price of an Ordinary Share for the 60 business days prior to today's date. A further announcement will be made in due course. Further to Aferian's interim results announcement released earlier today, Aferian has received an exercise notice from the founders of 24i with regards to their intention to exercise the put option agreement ("Put Option") that formed part of the acquisition as announced on 15 July 2019. The Put Option was over the remaining 8% minority interest in 24i. Upon completion of the acquisition of the outstanding 8% minority interest, 24i and its subsidiaries will be wholly-owned subsidiaries of Aferian. Following the completion, Aferian will benefit from the inclusion of a further 8% of the results of 24i and its subsidiaries. Under the terms of the acquisition, the Ordinary Shares are subject to a lock-in between the 24i vendors and Aferian that restrict the 24i vendors from disposing of the new Ordinary Shares for a period of 12 months. Aferian Plc (AIM:AFRN) completed the acquisition of 8% stake in 24i Unit Media B.V. on August 16, 2021. The consideration will be paid in full within five days.