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BRIEF-Oncard International updates on acquisition of The Van Diemen's Land Company

Published 06/11/2015, 06:31 pm
Updated 06/11/2015, 06:40 pm
© Reuters. BRIEF-Oncard International updates on acquisition of The Van Diemen's Land Company
TFL
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Nov 6 (Reuters) - Oncard International Ltd ONC.AX :

* Acquisition of the Van Diemen's Land Company

* The consideration for the acquisition is $250 million and is to be satisfied largely in cash

* Proposes to issue up to 976 million fully paid ordinary shares in the company at $0.25 each to raise up to $244 million

* Entered into an agreement to acquire the assets of dairy and based other pasture-based farming business in tasmania

* Says the balance of the consideration will be bridged by a loan from TLC and other adjustments

* Says no changes are expected to be made to the of the company board in consequence of the acquisition of VDL

* Source text for Eikon ID:nASX9zDrD6

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