Brief: Steadfast Group Entered Into An Agreement To Acquire 70% Of Equity Interest In Combined Agency Group

Steadfast

16/11/2023 01:07

Nov 16 (Reuters) - Steadfast Group Ltd  SDF.AX :
    * ENTERED INTO AN AGREEMENT TO ACQUIRE 70% OF EQUITY
INTEREST IN
COMBINED AGENCY GROUP
    * LAUNCHED A FULLY UNDERWRITTEN A$280 MILLION INSTITUTIONAL
PLACEMENT
    * TRANSACTION FORECAST TO BE EPS ACCRETIVE IN FIRST FULL
YEAR
    * INTENDS TO OFFER NON-UNDERWRITTEN SHARE PURCHASE PLAN TO
RAISE
UP TO ADDITIONAL A$30 MILLION
    * UPGRADES FY24 UNDERLYING EBITA GUIDANCE TO A$520 - 530
MILLION
    * TRANSACTION CONSIDERATION COMPRISES FIXED NON-REFUNDABLE
UPFRONT
CASH PAYMENT OF A$148.8 MILLION PLUS TWO POTENTIAL EARN OUT
PAYMENTS
    * UPGRADES FY24 UNDERLYING NPATA GUIDANCE TO A$290 MILLION -
A$300
MILLION

Source text for Eikon:  ID:nASX9rbpn8 
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