EHL 2.82% $1.04 emeco holdings limited

News: EHL Emeco Holdings To Acquire 100% Of Pit N Portal For $72 Mln

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    Jan 29 (Reuters) - Emeco Holdings Ltd (EHL) :

    • EMECO TO ACQUIRE 100% OF PIT N PORTAL FOR $72 MILLION
    • DEAL IS EPS ACCRETIVE ON AN FY19 PRO FORMA BASIS POST TRANSACTION
    • UNAUDITED 1H20 OPERATING EBITDA OF $119 MILLION
    • ACQUISITION TO BE PRIMARILY FUNDED BY FULLY UNDERWRITTEN PRO-RATA ACCELERATED NON-RENOUNCEABLE ENTITLEMENT OFFER TO RAISE ABOUT $65 MILLION
    • REMAINS ON TRACK TO ACHIEVE GUIDED LEVERAGE OF 1.5X IN FY20
    • 1H20 REVENUE $246 MILLION, UP 10%
    • ALL SHARES OFFERED UNDER ENTITLEMENT OFFER WILL BE ISSUED AT A PRICE OF $2.07 PER NEW SHARE
    • CASH FLOW IS EXPECTED TO SIGNIFICANTLY IMPROVE IN 2H20
 
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