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BRIEF-Readytech Says Entered Heads Of Agreement & Exclusivity Agreement With Pentagon Holdco

Published 06/11/2020, 09:39 am
Updated 06/11/2020, 09:42 am
© Reuters.

Nov 6 (Reuters) - Readytech Holdings Ltd RDY.AX :

* ENTERED HEADS OF AGREEMENT & EXCLUSIVITY AGREEMENT WITH PENTAGON HOLDCO PTY

* DEAL FOR A MAXIMUM CONSIDERATION OF UP TO $72M CONSISTING OF A COMBINATION OF CASH AND SHARES

* REAFFIRMS FY21 GUIDANCE WITH FY21 Q1 TRADING IN LINE WITH GUIDANCE ASSUMPTIONS

* REVENUE RETENTION FOR FY21 Q1 IS MAINTAINED AT 95%

* HEADS OF AGREEMENT & EXCLUSIVITY AGREEMENT TO BUY OPEN OFFICE & MCGIRR

* ANNOUNCED A FULLY UNDERWRITTEN INSTITUTIONAL PLACEMENT OF AT ABOUT $25M AT A FIXED OFFER PRICE OF $1.88 PER NEW SHARE

* SEES DEAL TO BE ACCRETIVE IN LOW DOUBLE-DIGIT TO EPS IN FY21 ON PRO-FORMA BASIS

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