Brief: Cardno Entered Into Share Purchase Agreement With Dt Global Australia

Cardno

28/03/2022 02:26

March 28 (Reuters) - Cardno Ltd  CDD.AX :
    * ENTERED INTO A SHARE PURCHASE AGREEMENT WITH DT GLOBAL
AUSTRALIA
PTY LTD
    * DEAL FOR ENTERPRISE VALUE OF AUD$56.5M
    * CARDNO INTENDS TO DISTRIBUTE APPROXIMATELY AUD$56.5M TO
CARDNO
SHAREHOLDERS
    * DEAL FOR SALE OF 100% OF SHARES IN CARDNO EMERGING MARKETS
(AUSTRALIA), CARDNO UK LIMITED AND CARDNO EMERGING MARKETS USA
    * PROPOSED DISTRIBUTION WILL BE A MIXTURE OF A CAPITAL
RETURN AND
AN UNFRANKED DIVIDEND.
    * EXPECTS TO RETAIN MORE THAN AUD$15M OF CASH AFTER PAYING
ALL
TRANSACTION COSTS AND DISTRIBUTION TO SHAREHOLDERS
    * COMPLETION OF TRANSACTION IS TARGETED FOR END OF JUNE 2022

Source text for Eikon:  ID:nASX8L3Vv0 
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 ((Reuters.Briefs@thomsonreuters.com;))