LogiCamms in Merger and Acquisition Negotiations
10 March 2009
LogiCamms Limited (“LogiCamms”) wishes to notify the market it is in discussions with two separate companies in relation to potential merger and acquisition opportunities.
At this point in time no legally binding arrangements are in place. Negotiations and due diligence are continuing.
At this stage it is anticipated that if the transactions are completed, LogiCamms’ revenue is likely to increase by approximately $15+ million per annum. If completed, the consideration payable by LogiCamms is likely to involve a combination of cash and script. The quantum of the consideration has yet to be determined.
Given the substantial market uncertainties at present, there is no assurance the potential transactions will move to completion, but the company is using its best endeavours to draw the transactions to a positive conclusion.
LogiCamms will keep the market informed of material developments.