Veris sells Elton Consulting Pty Ltd to WSP Australia Pty Limited

  • Nov 21, 2019 AEDT
  • Team Kalkine

Veris Limited (ASX: VRS) announced the sale of Elton Consulting Pty Ltd (Elton) to WSP Australia Pty Limited for $13 million.

The sale will result in a significant drop in the net debt and a cash injection that will strengthen VRS’ balance sheet and help to focus on growth opportunities within its core business Veris Australia and Aqura Technologies.

  • WSP Australia Pty Ltd acquired 100% of shares of Elton.
  • $13 million on settlement subject to a holdback amount is expected to be paid within ~90 days after settlement, subject to finalisation of closing financial statements.
  • Elton has declared and will pay a dividend to VRS prior to 31 December 2019 in an amount equivalent to the amount in excess of the Target NA (circa $920,000).

 

All pictures are copyright to their respective owner(s).Kalkinemedia.com does not claim ownership of any of the pictures displayed on this website unless stated otherwise. Some of the images used on this website are taken from the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image.

 

There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.

Are you wondering if the year 2020 might not have taken the right start? Dividend stocks could be the answer to that question.

As interest rates in Australia are already at record low levels, find out which dividend stocks are viewed as the most attractive investment opportunity in the current scenario in our report.

CLICK HERE FOR YOUR FREE REPORT!
   
x
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK