LFS 0.43% $1.16 latitude group holdings limited

News: LFS Latitude Financial Services Australia Agreed To Acquire Symple Loans For A$200 Million

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    Aug 9 (Reuters) - Latitude Group Holdings Ltd (LFS) :

    • AGREED TO ACQUIRE SYMPLE LOANS FOR A$200 MILLION IN LATITUDE SHARES AND CASH
    • SYMPLE'S FOUNDERS WILL RECEIVE 23.5 MILLION OF LFS SHARES
    • ANTICIPATED IN-YEAR SYNERGIES STARTING IN 2HFY22 AND GROWING TO A$32 MILLION BEFORE TAX IN FY23 FROM ACQUISITION
    • TRANSACTION TO BE FUNDED BY ISSUE OF 38.46 MILLION SHARES OF CO AT A$2.60 PER SHARE AND A$100 MILLION IN CASH
 
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