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G8 EDUCATION LIMITED — Capital/Financing Update 2012
Sep 17, 2012
64978_rns_2012-09-17_a1235084-1a98-49c4-99e5-9b8fda121aa2.pdf
Capital/Financing Update
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ASX Announcement
G8 Education Limited (ASX:GEM)
18 September 2012
7 premium childcare and education centres to be acquired
Listed Queensland-based childcare and education centre operator G8 Education Limited (ASX: GEM) is pleased to announce it has contracted to acquire seven premium childcare and education centres in NSW.
A business acquisition contract has been executed, conditional upon customary licensing approvals. The acquisition will be funded from existing cash and bank finance facilities, with settlement expected to occur before the end of October 2012.
The purchase price for the seven centres is $9.2 million, payable at settlement, which represents 4 times anticipated EBIT for the 12 months post settlement.
G8 Education Limited Managing Director, Chris Scott, said: “The acquisition of these seven premium centres will continues G8’s expansion in NSW, and will add a further 365 licensed places to the Group. The seven centres are expected to contribute to EBIT immediately upon settlement.”
ENDS Chris Scott Managing Director
G8 Education Limited | ACN 123 828 553 A Suite 27 Pegasus Centre, 42 Bundall Road, Bundall QLD 4217 P PO Box 7092 Gold Coast MC QLD 9726 P 07 5581 5300 F 07 5581 5311 W www.g8education.com E [email protected]