April 18 (Reuters) - Environmental Group Ltd (EGL) :
- SIGNED A BINDING AGREEMENT TO ACQUIRE 100% OF SHARES IN AIRTIGHT PTY LTD
- WILL UNDERTAKE AN EQUITY CAPITAL RAISING OF UP TO A$9.0 MILLION
- PROCEEDS FROM PLACEMENT AND SPP TO SUPPORT ACQUISITION AND GROWTH OF AIRTIGHT
- ACQUISITION EXPECTED TO DELIVER MORE THAN 15% EPS ACCRETION IN FY24 (BEFORE SYNERGIES)
- AIRTIGHT EXPECTED TO GENERATE REVENUE OF A$18.2 MILLION AND NORMALISED EBITDA OF A$1.8 MILLION IN FY23
- ACQUISITION FOR A$7.0 MILLION PLUS UP TO A$5.0 MILLION EARNOUT BASED ON FY24 EARNINGS
- PLACEMENT AT AN ISSUE PRICE OF A$0.20 PER SHARE
News: EGL Environmental Group Says Signed Binding Agreement To Buy Airtight Pty Ltd
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