19 September 2007ACN 120 394 194 201 Adelaide Terrace Perth Western Australia 6000 Phone (08) 9463 4340 Facsimile (08) 9325 5999 www.ilh.com.au ASX Announcement Acquisition of Legal Practice
The Board of Integrated Legal Holdings Limited (ASX: IAW) ("Integrated") is pleased to
announce that an agreement has been executed to acquire the legal practice of the late
Peter Marks trading as Peter Marks Succession Lawyers.
This new acquisition will be merged into the existing practice of Integrated's wholly owned
subsidiary Talbot Olivier. This acquisition promotes the Integrated business strategy
which encourages acquired practices to enhance their own growth aspirations via the
acquisition of complementary practices.
The assets to be purchased are the business and its goodwill and business assets,
business name, plant and equipment, client files, records and client lists, excluding all
work in progress, outstanding debtors, and any motor vehicles. Assets acquired include:
·a Will bank of over 1,100 Wills held by the practice; and ·the 105m2premises at 26thfloor of St Martins Tower, 44 St Georges Terrace, Perth which is currently under lease contract for a further 4½ years, at a rate
significantly below current market value.
The consideration for the purchase is cash only of $125,000 payable within 90 days of
completion. The cash will be funded from working capital. Completion is expected within
14 days.
After a 90 day period from acceptance a further offer to the vendors will be made by
Talbot Olivier to purchase work in progress and debtors which are outstanding at the
time.
The acquisition is expected to contribute to the earnings of Integrated from the first year.
"This is an exciting acquisition for us", said Integrated spokesman, Brett Davies. "It
marks the first acquisition of a legal practice under the Integrated business model since
listing on 17 August 2007, and reinforces the company's commitment to its active
acquisition strategy".
For further information
Brett Davies, Company Secretary, Integrated Legal Holdings Limited
Telephone: (08) 9463 4341
Mobile: 0419 980 972
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