Oct 18 (Reuters) - Class Ltd (CL1) : HUB24 TO ACQUIRE CLASS...

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    Oct 18 (Reuters) - Class Ltd (CL1) :

    • HUB24 TO ACQUIRE CLASS LIMITED VIA SCHEME OF ARRANGEMENT
    • ENTERED SCHEME IMPLEMENTATION DEED FOR ACQUISITION BY HUB24 OF 100% OF CLASS
    • CLASS SHAREHOLDERS WILL RECEIVE 1 ORDINARY HUB24 SHARE FOR EVERY 11 ORDINARY CLASS SHARES HELD, PLUS A$0.10 PER ORDINARY CLASS SHARE
    • CLASS BOARD OF DIRECTORS HAS UNANIMOUSLY RECOMMENDED THAT CLASS SHAREHOLDERS VOTE IN FAVOUR OF SCHEME
    • ACQUISITION OF CLASS EXPECTED TO BE 8% EPS ACCRETIVE (EXCLUDING REVENUE SYNERGIES AND ONE-OFF IMPLEMENTATION COSTS) TO CO'S SHAREHOLDER BY FY23
    • ACQUISITION OF CLASS IS EXPECTED TO BE 8% EARNINGS PER SHARE ACCRETIVE TO HUB24 SHAREHOLDERS BY FY23
    • ACQUISITION OF CLASS IS EXPECTED TO DELIVER COST SYNERGIES OF ABOUT A$2 MILLION P.A.
 
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$108.43
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