The takeover is funded from Springfield’s existing cash balances and borrowing facilities with Bank of Scotland. Springfield has paid an initial £21m in cash, while the balance will be paid in four tranches. £4m will be paid in cash on receipt of planning consent at a site at Carlaverock, Tranent, while £2m will be paid after planning consent on all of the sites at the scheme. The final £4m is payable in equal amounts on the first and second anniversary of the completion of the acquisition.