Zeus Capital Limited entered into an agreement to acquire Arden Partners plc from The Ince Group plc (AIM:INCE) for ú3 million on November 16, 2022. Ince will receive consideration of ú1.0 million, payable in cash on completion of the Disposal, on the basis of, inter alia, there being ú1.0 million of free cash in Arden and no material outstanding debt. In addition, there will be earnout consideration payable by Zeus of up to ú2.0 million based on certain Arden revenues received by Zeus in the three months following completion of the Disposal.

As of January 3 2023, the transaction has received FCA approval. As of January 12, 2023, the board of directors of the Ince and Zeus are agreed and announced completion date and the Disposal is expected to complete on January 16, 2023. Allenby Capital Limited acted as a financial advisor to Ince Group.