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PPK GROUP LIMITED — M&A Activity 2014
Dec 1, 2014
65603_rns_2014-12-01_c2a23f4b-d829-45a4-8e4b-75b46e504373.pdf
M&A Activity
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ASX ANNOUNCEMENT
FOR IMMEDIATE RELEASE TO THE MARKET
PPK Group Limited – ASX Code: PPK
Tuesday 2 December 2014
Acquisition of Firefly International
PPK Group Limited (PPK) is pleased to announce it has entered into Binding Heads of Agreement to acquire the business and assets of Firefly International for $1.86 million (subject to the usual working capital adjustments).
Firefly supplies, services and hires a range of drilling, boring and other equipment plus markets consumables to the underground mining industry.
PPK Executive Chairman Robin Levison stated:
“The acquisition of Firefly continues PPK’s ongoing commitment to offer quality fit-for-purpose products and services to the underground high-gas coal mining industry. Firefly nicely compliments PPK’s current suite of products and services. In addition, Firefly has a quality customer base, particularly in the Hunter region. I am delighted to welcome the Firefly team to PPK”.
The transaction is subject to the completion of due diligence. It will be funded from cash reserves.
For further information contact:
Robin Levison Executive Chairman Tel: (07) 3054 4500
Peter Barker Chief Financial Officer Tel: (07) 3054 4500
PPK GROUP LIMITED
ABN: 65 003 964 181
Level 27, 10 Eagle St, Brisbane QLD 4000 GPO Box 754, Brisbane Qld 4001 Tel: +61 7 3054 4500 Fax: +61 7 3054 4599