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G8 EDUCATION LIMITED — M&A Activity 2012
Oct 1, 2012
64978_rns_2012-10-01_b67de54e-25be-4360-bacd-e28341626018.pdf
M&A Activity
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ASX Announcement
G8 Education Limited (ASX:GEM)
2 October 2012
SETTLEMENT OF KOALA ACQUISITION
The directors of G8 Education Limited (ASX: GEM) are pleased to announce settlement of the acquisition of the Koala group of premium childcare and education centres, located in Victoria.
The acquisition was originally three childcare centres for a total purchase price of $3 million with $2.5 million payable at settlement and $500,000 conditional upon centre based EBIT target being achieved in the 12 months post settlement. The acquisition has been amended to the acquisition of two childcare centres with a total purchase price of $2.4million with $1.85million paid at settlement and $550,000 conditional upon a centre based EBIT target being achieved in the 12 months post settlement.
The purchase price represents 4 times anticipated EBIT for the 12 months post settlement.
ENDS
Christopher Sacre Company Secretary
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]