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Greencross Ltd Acquires Remaining 44% Of Greencross Vets South Coast Pty Ltd

Wednesday, 30 Jan 2013 01:40am EST 

Greencross Ltd announced that it has entered into an agreement to acquire the remaining 44% of the issued capital of Greencross Vets South Coast Pty Ltd (GXSC). After the completion of the acquisition, the Company’s total ownership in GXSC will increase from 56% to 100%. The total consideration for the GXSC shares equals AUD 1.886m. The acquisition is expected to be earnings per share accretive in the 2013 fiscal year. The consideration for the GXSC shares is to be settled by the issue of 584,466 Greencross shares to the vendors. 292,233 of the Greencross shares issued to the vendors will be subject to a voluntary escrow period of 1 year. The Greencross share issue price, being AUD 2.90 per share, is consistent with negotiations which occurred in December 2012 with the vendors and is also consistent with the share price offered to the vendors of the recent Greencross Vets Toowoomba Pty Ltd and Pet Accident and Emergency Centre Pty Ltd acquisitions. This transaction and the issue of the new shares to the vendor are effective as of today’s date, January 30, 2013. 

Company Quote

0.11 +1.44%
19 Dec 2014