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BRIEF-East Africa Resources says shareholders approve acquisition of Threat Protect Australia

Published 05/08/2015, 05:14 pm
Updated 05/08/2015, 05:16 pm
© Reuters.  BRIEF-East Africa Resources says shareholders approve acquisition of Threat Protect Australia
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Aug 5 (Reuters) - East Africa Resources Ltd EAF.AX :

* Shareholders approve acquisition EAF.AX

* Shareholders also approved share placement to raise $4.5 million

* Shareholders have approved co's acquisition of WA security company Threat Protect Australia Pty Ltd

* Acquisitions of two businesses are forecast to increase threat protect's revenue from current level of $5 million a year to $6.9 million in FY 2016

* Proceeds of placement will be used mainly to fund growth of threat protect

* Threat Protect will seek opportunities to acquire additional monitored security client bases from other security companies across Australia

* Source text for Eikon ID:nASXbmzD4n

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