Keytone to acquire 100% of Omniblend, subject to satisfaction of conditions precedent including shareholder approvals • Omniblend is a profitable and leading Australian product developer and contract manufacturer of health and wellness powdered and UHT drinks products • Omniblend expects revenues of $29.7 million and EBITDA of $2.244 million for the 30 June 2019 year • Purchase price of $10.0 million in Keytone shares to Omniblend vendors, $8.0 million in cash on completion plus the settlement of Omniblend’s existing debt of up to $4.6m; plus an issue of performance shares convertible into Keytone shares dependent on substantial increases in Omniblend’s performance over the next three years • A highly strategic and attractive acquisition for Keytone’s shareholders - Keytone is purchasing a substantial increase in revenues and earnings base • Omniblend is a highly complementary, accretive and synergetic business in a logical adjacency • Omniblend holds numerous accreditations, including from the Certification and Accreditation Administration of the People's Republic of China • Keytone will fund the acquisition via a placement of up to $8.0 million to institutional and sophisticated investors and a Share Purchase Plan to raise up to $10.0 million for shareholders • Completion expected to occur following shareholder approval at the shareholders’ meeting expected to be held during the second half of July 2019
- Forums
- ASX - By Stock
- HLF
- Ann: Keytone to acquire Omniblend and launch Capital Raise
Ann: Keytone to acquire Omniblend and launch Capital Raise, page-2
-
-
- There are more pages in this discussion • 49 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)