March 9 (Reuters) - Reckon Ltd (RKN) :
- MADE A COMMITMENT TO PROVIDE US$4M IN FUNDING TO ITS LEGAL PRACTICE MANAGEMENT GROUP
- WILL ALSO ACQUIRE EXISTING SECURITIES IN LEGAL GROUP
- INCREASED INVESTMENT WILL BE DEPLOYED TOWARDS A TARGETED BUSINESS DEVELOPMENT STRATEGY IN US
- INTENDS FOR NEW FUNDING TO PROVIDE FINANCIAL FLEXIBILITY TO CAPITALISE ON GROWTH OVER NEXT 24 MONTHS
- TRANSACTIONS WILL INCREASE RECKON'S OWNERSHIP IN DIVISION FROM 70% TO 76% AT TOTAL CASH COST TO RECKON OF ABOUT US$4M
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