Brief: Johns Lyng Group Announces Acquisition Of Smoke Alarms And Link Fire And Equity Raising

Johns Lyng

05/07/2023 02:04

July 5 (Reuters) - Johns Lyng Group Ltd  JLG.AX :
    * ACQUISITION OF SMOKE ALARMS AND LINK FIRE AND EQUITY
RAISING
    * SIGNED BINDING SHARE PURCHASE AGREEMENTS TO ACQUIRE 100%
OF
PROJECT SAFETY HOLDINGS
    * DEAL FOR TOTAL UPFRONT CASH CONSIDERATION OF A$61.8M PLUS
AN
AGGREGATE EARN-OUT OF UP TO A$17.25M
    * ACQUISITIONS ARE EXPECTED TO BE IMMEDIATELY 5% EPS
ACCRETIVE
    * ACQUISITIONS WILL BE FUNDED BY A A$65M FULLY UNDERWRITTEN
INSTITUTIONAL PLACEMENT
    * BOTH ACQUISITIONS ARE EXPECTED TO SETTLE IN Q1 OF FY24
    * ACQUISITIONS EXPECTED TO BE IMMEDIATELY ABOUT 5% EPS
ACCRETIVE
    * COMBINED ACQUISITIONS EXPECTED TO GENERATE FY23 REVENUE OF
A$44.2M AND EBITDA OF APPROXIMATELY A$9.3M
    * PLACEMENT WILL BE PRICED AT HIGHER OF FLOOR PRICE OF A$5
PER NEW
SHARE OR PRICE DETERMINED BY INSTITUTIONAL BOOKBUILD PROCESS
    * UNIT ENTERED INTO BINDING SHARE PURCHASE AGREEMENT TO
ACQUIRE
70% OF LINKFIRE FOR A$11.7M IN CASH

Source text for Eikon:  ID:nASXbdfv7M 
Further company coverage:  JLG.AX 

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