CDD 0.00% 14.5¢ cardno limited

News: CDD Cardno Entered Into Share Purchase Agreement With Dt Global Australia

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    March 28 (Reuters) - Cardno Ltd (CDD) :

    • ENTERED INTO A SHARE PURCHASE AGREEMENT WITH DT GLOBAL AUSTRALIA PTY LTD
    • DEAL FOR ENTERPRISE VALUE OF AUD$56.5M
    • CARDNO INTENDS TO DISTRIBUTE APPROXIMATELY AUD$56.5M TO CARDNO SHAREHOLDERS
    • DEAL FOR SALE OF 100% OF SHARES IN CARDNO EMERGING MARKETS (AUSTRALIA), CARDNO UK LIMITED AND CARDNO EMERGING MARKETS USA
    • PROPOSED DISTRIBUTION WILL BE A MIXTURE OF A CAPITAL RETURN AND AN UNFRANKED DIVIDEND.
    • EXPECTS TO RETAIN MORE THAN AUD$15M OF CASH AFTER PAYING ALL TRANSACTION COSTS AND DISTRIBUTION TO SHAREHOLDERS
    • COMPLETION OF TRANSACTION IS TARGETED FOR END OF JUNE 2022
 
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