On Friday 26 May 2017, ASG submitted a conditional Expression of Interest (EOI) to acquire 100% of the shares of SMS Management & Technology Limited (ASX:SMX) for $1.80 per share.
The EOI is subject to a number of conditions, including but not limited to:
- completion of confirmatory due diligence;
- final internal approvals;
- unanimous recommendation from the SMS Board in support of the transaction; and
- execution of a binding implementation agreement
“Together with NRI, we have been looking at a number of growth opportunities in the Australian market,” said Geoff Lewis, ASG CEO. “We believe that SMS represents an excellent opportunity to expand and leverage ASG’s capabilities and could substantially increase our offerings to our valued clients.”
Further announcements will be made in due course.
For further information, please contact
Chief Executive Office – ASG Group
08 9420 5401