Brief: Savor Ltd To Buy Hipgroup Venues

Savor

09/03/2021 19:38

March 10 (Reuters) - Savor Ltd  SVR.NZ :
    * AGREED TO ACQUIRE HIPGROUP VENUES; AMANO, ORTOLANA AND THE
STORE
    * ACQUISITION TO BE IMMEDIATELY ACCRETIVE TO GROUP EARNINGS
WITH
INCREMENTAL ANNUALIZED OPERATING EARNINGS OF CIRCA NZ$3 MILLION
    * DEAL FOR NZ$7.15 MILLION PAID AT COMPLETION, NZ$1 MILLION
OF
CO'S ORDINARY SHARES, DEFERRED PAYMENT OF NZ$2.85 MILLION
    * EXPECTS SCALE BENEFITS FROM LEVERAGING ITS CURRENT
OVERHEAD
STRUCTURE & TO ACHIEVE BOTH REVENUE & OPERATIONAL SYNERGIES
    * TRANSACTION TO BE FUNDED BY FULLY UNDERWRITTEN RIGHTS
ISSUE
INTENDED TO RAISE NZ$6 MILLION AT 17.67 NZ CENTS PER SHARE

Source text for Eikon:  ID:nNZW6qCcFx 
Further company coverage:  SVR.NZ 

 ((Reuters.Briefs@thomsonreuters.com))