Ann: OBJ Executes Agreement to acquire Nutrition Systems, page-2

Highlights from the announcement:

"OBJ has entered into a share sale agreement pursuant to which it has conditionally agreed to
acquire 100% of the issued share capital of Export Corporation (Australia) Pty Ltd, the owner
and operator of the Nutrition Systems business, which includes Nutrition Systems NZ Pty Limited
and Nutrition Zone WA Pty Ltd.
• Nutrition Systems is a highly profitable distributor and wholesaler of nutritional wellness products
in Australia and New Zealand – focus on highest quality sports nutrition products from the USA.
• The acquisition will strengthen the growth of OBJ by positioning it closer to both its target
markets and the end consumer through Nutrition Systems extensive distribution network of
specialty stores, major pharmacy and grocery chains throughout Australia and New Zealand.
It will also allow the Nutrition Systems business to access OBJ’s technology platforms and
manufacturing expertise.
• Total acquisition consideration of $85m of which $50m to be satisfied with cash and $35m in
equity – full details below.
• Acquisition of Nutrition Systems includes purchase of associated NSW distribution centre ($12m)
plus stock and debtors (approximately $23m) as part of the total purchase consideration.
• Proposed 20-to-1 consolidation of OBJ Shares.
• Proposed capital raising of up to $50m via the issue of up to 166,666,667 Shares at an issue price
of $0.30 per Share on a post-consolidation basis.
• Upon settlement, OBJ proposes to change the Company’s name to Wellfully Limited.
• The Company will remain suspended from the date of this announcement until re-compliance
with Chapters 1 and 2 of the ASX Listing Rules."