Brief: Praemium Announces Sale Of Praemium's International Business To Morningstar

Praemium

21/12/2021 05:53

Dec 21 (Reuters) - Praemium Ltd  PPS.AX :
    * SALE OF PRAEMIUMS INTERNATIONAL BUSINESS TO MORNINGSTAR
    * ENTERED INTO AN AGREEMENT TO SELL 100% OF ITS OPERATIONS
IN
UNITED KINGDOM, JERSEY, HONG KONG AND DUBAI TO MORNINGSTAR,
    * CONSIDERATION FOR TRANSACTION WILL COMPRISE CASH OF A$65.1
MILLION
    * PARTIES EXPECT TO COMPLETE TRANSACTION DURING Q2/Q3 OF
CALENDAR
YEAR 2022
    * BOARD INTENDS TO RETURN SURPLUS NET PROCEEDS TO
SHAREHOLDERS
    * IT IS EXPECTED THAT A DIVIDEND POLICY WILL BE INTRODUCED
FOR
FY2023 ONWARDS

Source text for Eikon:  ID:nASX3wrLPm 
Further company coverage:  PPS.AX 

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