AI assistant
RECKON LIMITED — Capital/Financing Update 2018
Mar 28, 2018
65708_rns_2018-03-28_3741deab-b2da-4e54-a922-9f95e4df6837.pdf
Capital/Financing Update
Open in viewerOpens in your device viewer
29 March 2018
ASX Announcement
==> picture [117 x 48] intentionally omitted <==
ACCC extends review of proposed acquisition
MYOB Group Limited (ASX: MYO) (“MYOB”) today wishes to provide an update on the Australian Competition and Consumer Commission’s (ACCC) review of the proposed acquisition of Reckon’s Accountant Group assets ( refer to the ASX announcement dated 16 November 2017 ).
MYOB notes that the ACCC has today advised that it is continuing to review MYOB’s proposed A$180 million acquisition of Reckon’s Accountant Group assets. The ACCC’s Statement of Issues and revised timeline will be available on its website. The ACCC’s Press Release is available on the Australian Stock Exchange (ASX) under both the MYO and RKN trading codes.
MYOB is cooperating with the ACCC as they conduct their review and expects to receive a decision from both the ACCC and NZCC in Q2 2018.
MYOB CEO Tim Reed said :
“We understand that the extension by the ACCC is a standard part of their assessment process and we will continue to work with each of the regulators to enable them to complete their due diligence and provide an outcome.”
Investor and Analyst Enquiries Media queries Christina Nallaiah Lia Pacquola Head of Investor Relations Head of PR and Corporate Communications T: +61 2 9089 9122 | M: +61 468 362 553 M: + 61 418 116 790 [email protected] [email protected]
About MYOB
MYOB Group Ltd (ASX: MYO) is a leading provider of online business management solutions. It makes business life easier for approximately 1.2 million businesses and accountants across Australia and New Zealand by simplifying accounting, payroll, tax, practice management, CRM, job costing, inventory and more. MYOB operates across three core segments – Clients and Partners (business solutions to SMEs and Advisers); Enterprise Solutions (larger businesses) and Payment Solutions. It provides ongoing support through client service channels including a network of over 40,000 accountants, bookkeepers and other consultants. It is committed to ongoing innovation, particularly through its Connected Practice Strategy and through the development of the MYOB Platform. For more information, visit http://investors.myob.com.au/Investors or follow @MYOB on Twitter.
MYOB Group Limited ABN 61 153 094 958 Level 3, 235 Springvale Road, Glen Waverley VIC 3150