Emeco Holdings (EHL) Trading Halt: Double barrelled news this morning that their credit rating has been upgraded by Moody’s + they are raising capital to pursue an acquisition of Pit N Portal (click), a specialist in mining and equipment solutions specific to the hard rock sector. Reports being the acquisition will be earnings accretive from the get-go and EHL will fund via an entitlement issue from existing shareholders. EHL has one major shareholder who owns more than 20% of the company, implying they are in full support of the proposed deal (hence the pro-rata entitlement issue).
Anybody we know as a likely customer??
Michael.
Emeco Holdings (EHL) Trading Halt: Double barrelled news this...
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