NZ's EROAD eyes best day in over 3 weeks on clearance for Cortex acquisition

Respirerx Pharmaceuticals

18/11/2021 02:34

** Shares of EROAD Ltd  ERD.NZ  rise as much as 3.6% to
NZ$5.21, on track for their biggest intraday percentage gain
since Oct. 22
    ** The transport technology services firm says it received
clearance from the New Zealand Commerce Commission for the
Cortex acquisition signed in July 14  urn:newsml:reuters.com:*:nASX9V2PB5
    ** Says the conditional agreement entered to acquire 100% of
telematics solution provider Coretex Ltd is now due to complete
on Dec 1 
    ** Says acquisition will capture growth opportunity in North
America and Australia whilst broadening its product and customer
base 
    ** Shares hit their highest since Nov. 11  
    ** Around 30,705 shares change hands, compared with the
30-day average volume of 59,964 shares 
    ** Stock has risen 1.6% this year, as of last close

 (Reporting by Roushni Nair in Bangalore.)
 ((Roushni.Nair@thomsonreuters.com))