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BRIEF-Propel Funeral Partners Executes Sales Agreement To Acquire Graham's Funeral Services

Published 18/10/2019, 12:36 pm
© Reuters.  BRIEF-Propel Funeral Partners Executes Sales Agreement To Acquire Graham's Funeral Services
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Oct 18 (Reuters) - Propel Funeral Partners Ltd PFP.AX :

* EXECUTED SALE AGREEMENT TO ACQUIRE BUSINESS TRADING AS GRAHAM'S FUNERAL SERVICES, AND CERTAIN FREEHOLD PROPERTIES

* PURCHASE PRICE PAYABLE INCLUDES ABOUT NZ$7.28 MILLION IN CASH FOR ACQUISTION

* GRAHAM'S FUNERAL SERVICES IS EXPECTED TO INCREASE PROPEL'S ANNUALISED REVENUE BY CIRCA 2.1%

* PURCHASE PRICE PAYABLE ON TRANSACTION ALSO INCLUDES ISSUE OF 227,510 ORDINARY SHARES OF CO AT A$3.07 PER SHARE

* INTENDS TO FUND CASH AMOUNT PAYABLE ON COMPLETION FROM ITS DEBT FACILITIES

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