Tox Free Solutions logo

TOX - Tox Free Solutions News Story

A$3.42 0.0  0.0%

Last Trade - 11/05/18

Sector
Industrials
Size
Micro Cap
Market Cap £n/a
Enterprise Value £n/a
Revenue £282.4m
Position in Universe th / 1913

BRIEF-Tox Free Solutions Ltd to acquire Daniels Health Australia

Tue 25th October, 2016 10:34pm
Oct 26 (Reuters) - Tox Free Solutions Ltd  TOX.AX  
    * Strategic acquisition of Daniels Health Australia 
    * Deal for an enterprise value of $186 million 
    * Acquisition is expected to deliver approximately 16% eps 
accretion in FY2017 on a full year pro forma basis 
    * Toxfree intends to fund acquisition through a combination 
of equity, cash and increased debt facilities 
    * Entitlement offer will be structured as a 1 for 3.9 
pro-rata non-renounceable entitlement offer priced at $2.30 per 
share 
    * Toxfree will acquire 100% of shares & related assets of 
daniels health pty ltd & daniels manufacturing pty ltd 
    * "Existing operational staff of daniel's will become 
employees of toxfree group" 
    * Acquisition will be partly funded by approximately $114 
million of new equity funding 
    * All toxfree directors and senior executive management who 
hold shares in co have stated they intend to participate in 
entitlement offer 
    * Toxfree expects underlying fy2017 ebitda to be in lower 
half of its previous guidance range of 5-10% higher than fy2016 
underlying ebitda 
    * Amended and increased its existing debt facilities from 
its relationship banks to provide funding capacity for 
acquisition 
    * As at end of 1q FY2017, toxfree is trading in-line with 
toxfree and market expectations 
    * Expects to have approximately $159 million of net debt 
upon completion 
    * Increased debt facilities will provide additional funding 
capacity of up to $95 million to support acquisition 
    * Announced that it has recently been "successful in award 
of a number of new contracts and opportunities" 
 
Source text for Eikon:  urn:newsml:reuters.com:*:nASX85dhRr 
Further company coverage:  TOX.AX  
 
 ((bangalore.newsroom@thomsonreuters.com ;))
© Stockopedia 2021, Refinitiv, Share Data Services.
This site cannot substitute for professional investment advice or independent factual verification. To use it, you must accept our Terms of Use, Privacy and Disclaimer policies.