Ambertech Limited (ASX: AMO) has completed the funding arrangement to acquire Hills Audio Visual (HAV), by way of a two-tranche placement and underwritten Share Purchase Plan (SPP).
- HAV has exclusive distribution agreements with operating agencies across Australia and New Zealand;
- The combined group is expected to report FY20 revenues of approximately $70-$75 million and EBIT of approximately $2.5 to $3.5 million, before the costs of acquisition;
- This acquisition is EPS accretive.
At AEST 01:28 PM, the stock was trading at $0.115 per share, up by 4.545% from its previous close.
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