News: JYC Joyce Corp purchases 51 pct equity in Lloyds Online Auctions Pty Ltd

July 5 (Reuters) - Joyce Corporation Ltd (JYC) :

• Purchased 51% equity in Lloyds Online Auctions Pty Ltd
• JYC expects transaction to be earnings per share and EBITDA accretive in FY

  2017

• Deal for initial payment of $6 million
• Lloyds EBITDA expected to be > $3 million in FY 2017
• Jyc will have 3x directors appointed to the lloyds board
• On a fully franked basis Lloyds is expected to add 3.85 cents net earnings per share to JYC in FY 2017
• Total group network written sales forecast to be $170M-$200M in FY 2017
• Deal expected to add $10 million to Jyc'S consolidated revenue, an expected uplift of nearly +22% on FY 2016