Brief: Hub24 Ltd Enters Deal To Acquire 100% Of Shares Of Myprosperity

Hub24

02/05/2023 23:58

May 3 (Reuters) - Hub24 Ltd  HUB.AX :
    * ENTERED INTO AGREEMENT FOR HUB24 TO ACQUIRE 100% OF
ORDINARY
SHARES OF MYPROSPERITY
    * MYPROSPERITY SHAREHOLDERS WILL RECEIVE TOTAL CONSIDERATION
OF
A$40 MILLION OF HUB24 LIMITED ORDINARY SHARES
    * INTENDED THAT MYPROSPERITY WILL OPERATE AS A SEPARATE
BUSINESS
UNIT WITHIN HUB24 GROUP
    * TRANSACTION IS EXPECTED TO BE UNDERLYING EBITDA POSITIVE
IN FY25
    * MYPROSPERITY WILL BE INCORPORATED INTO PLATFORM SEGMENT
WITHIN
CO'S FINANCIAL REPORTING DISCLOSURES
    * TRANSACTION EXPECTED TO BE EPS NEUTRAL IN FY26 AND EPS
ACCRETIVE
IN FY27 (4 – 5%)

Source text for Eikon:  ID:nASX8xGWZW 
Further company coverage:  HUB.AX 

 ((Reuters.Briefs@thomsonreuters.com;))