EZL Joins Hands with Hartleys and Provides Trading Update

  • Jun 21, 2020 AEST
  • Team Kalkine


Euroz Limited (ASX:EZL) has announced that it has joined hands with Hartleys Limited for a proposed deal to merge 2 of Western Australia’s most prominent management companies.

  • Euroz is offering $30.2 million i.e. 33 million shares at 91.5 cents per share for 100% of Hartleys
  • Hartley shareholders will own 17% of the entity and 2 nominees will join EZL Board

Further, EZL also provided a trading update reporting good trading conditions leading to robust brokerage and revenues.

  • Underlying cash profits after tax were of $6.7 million for 11 months to 31 May
  • On headline basis, unaudited net loss after tax of $4 million
  • Total value of cash and investments is over $100 million

EZL also intends to pay final dividend of 6 cents per share given completion of the Prodigy investments and a greater cash position.



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