Rubik Financial Ltd To Acquire Provisio Technologies Pty Ltd

Rubik Financial Ltd announced that it has entered into a conditional agreement to purchase 100% of the share capital of Provisio Technologies Pty Ltd (and all of the units in the Provisio Technologies Unit Trust), the owner of Provisio Software and all associated intellectual property rights, from its owners (the Vendors). The Company, at completion, will pay AUD 0.29 million in cash to the Vendors and issue them 2.1 million shares at AUD 0.10 each. Rubik will make a further payment once the fiscal 2013 accounts have been audited, which is expected to total AUD 1.0 million, being 3.0 times fiscal 2013 EBITDA less the completion payment. This payment shall be a mixture of cash and shares in Rubik, issued at AUD 0.10 per share.