+++++++++++++++++++++++++ MYOB Limited ("MYOB") has today announced that it has agreed to acquire 32,056,442 shares (representing 12.7%) in Solution 6 Holdings Limited ("Solution 6") from Telstra Corporation Limited. The acquisition price is $0.52 per share cash, or approximately $16.67 million.
The company views the holding as a strategic investment in the accounting and business software industry providing MYOB with the ability to preserve its position in any rationalisation that may occur in the sector.
MYOB was in discussion with Solution 6 in December 2002 in relation to a possible transaction. However, those discussions were terminated in January 2003. MYOB has no intention of pursuing a merger or any other transaction with Solution 6 in the foreseeable future.
For further information please contact:
Barry Brott GENERAL MANAGER, CORPORATE DEVELOPMENT Tel: +61 3 9222 9875 E-mail: [email protected]
For more information visit the MYOB web site at www.myob.com.au/investors/.
SOH Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
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