SCHOOLBLAZER LIMITED — M&A Activity 2019

Jul 9, 2019

10 July 2019

Acquisition update

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HGL Limited (HGL) (ASX: HNG) advises that it has provided notice to the Vendor that it will not be proceeding with the acquisition of a 60 per cent interest in Rise Above Custom Drone Solutions.

The acquisition will not proceed as some of the conditions precedent under the Heads of Agreement could not be satisfied.

HGL’s key objective remains to continue building the scale of our Group, to secure bolt-on acquisitions that will deliver operational and revenue synergies, actively pursue stand-alone acquisitions through our equity and skills model, and expand our representation in selected industry sectors with longer term growth prospects.

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For further information

Henrik Thorup, Chief Executive Officer Office: 02 8667 4661 Mobile: 0419 268 560

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