News: JLG Johns Lyng Group Announces Acquisition Of Smoke Alarms And Link Fire And Equity Raising

July 5 (Reuters) - Johns Lyng Group Ltd (JLG) :

• ACQUISITION OF SMOKE ALARMS AND LINK FIRE AND EQUITY RAISING
• SIGNED BINDING SHARE PURCHASE AGREEMENTS TO ACQUIRE 100% OF PROJECT SAFETY HOLDINGS
• DEAL FOR TOTAL UPFRONT CASH CONSIDERATION OF A$61.8M PLUS AN AGGREGATE EARN-OUT OF UP TO A$17.25M
• ACQUISITIONS ARE EXPECTED TO BE IMMEDIATELY 5% EPS ACCRETIVE
• ACQUISITIONS WILL BE FUNDED BY A A$65M FULLY UNDERWRITTEN INSTITUTIONAL PLACEMENT
• BOTH ACQUISITIONS ARE EXPECTED TO SETTLE IN Q1 OF FY24
• ACQUISITIONS EXPECTED TO BE IMMEDIATELY ABOUT 5% EPS ACCRETIVE
• COMBINED ACQUISITIONS EXPECTED TO GENERATE FY23 REVENUE OF A$44.2M AND EBITDA OF APPROXIMATELY A$9.3M
• PLACEMENT WILL BE PRICED AT HIGHER OF FLOOR PRICE OF A$5 PER NEW SHARE OR PRICE DETERMINED BY INSTITUTIONAL BOOKBUILD PROCESS
• UNIT ENTERED INTO BINDING SHARE PURCHASE AGREEMENT TO ACQUIRE 70% OF LINKFIRE FOR A$11.7M IN CASH