April 15 (Reuters) - Coventry Group Ltd (CYG) :
- ENTERED AGREEMENT TO ACQUIRE 100% OF SHARES OF STEEL MASTERS AUCKLAND LIMITED
- TO ACQUIRE AUSTRALIA AND NEW ZEALAND BASED STEELMASTERS GROUP FOR A$42.1 MILLION
- DEAL FUNDED BY DEBT WITH NAB REVOLVING CASH ADVANCE FACILITY AND A$25.0 MILLION PLACEMENT
- ACQUISITION TO RESULT IN PRO FORMA FY24F EPS ACCRETION OF 31% (INCLUDING SYNERGIES)
- ALSO UNDERTAKING A A$2.0 MILLION NON-UNDERWRITTEN SHARE PURCHASE PLAN
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