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

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