Brief: Frontier Digital Ventures Enters Agreements To Acquire Remaining 73.7% Interest In Encuentra24

Frontier Digital Ventures

17/12/2021 01:34

Dec 17 (Reuters) - Frontier Digital Ventures Ltd  FDV.AX :
    * ENTERED INTO AGREEMENTS TO ACQUIRE REMAINING 73.7%
INTEREST IN
ENCUENTRA24 TO MOVE TO 100% OWNERSHIP
    * INSTITUTIONAL PLACEMENT RAISED A$35.0M AT OFFER PRICE OF
A$1.50/SHARE
    * UNDERTAKING A SHARE PURCHASE PLAN TO RAISE UP TO A$5.0M AT
SAME
OFFER PRICE AS PLACEMENT
    * CONSIDERATION FOR OLX GROUP'S 37.5% INTEREST IN E24 IS
ABOUT
A$13.1M
    * CONSIDERATION FOR E24 FOUNDERS' 36.2% INTEREST WILL
COMPRISE
PERFORMANCE-BASED EARN-OUT

Source text for Eikon:  ID:nASX9prH4Y 
Further company coverage:  FDV.AX 

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