Slovar Limited — M&A Activity 2019

Mar 12, 2019

money3

13 March 2019

ASX Release

MONEY3 COMPLETES ACQUISITION OF GO CAR FINANCE IN NEW ZEALAND

Money3 Corporation Limited (ASX: MNY), the auto loans specialist, is pleased to announce it has today successfully completed the acquisition of the New Zealand-based automotive lender Go Car Finance. The acquisition was settled with an upfront payment of NZ$14m in cash and NZ$2m in script to the Go Car Finance founders, who will remain with the business for at least a further three years. With the acquisition, Money3's automotive loan book grows to over A$345m – consolidating its position as a significant and fast-growing lender in the automotive finance sector.

Go Car Finance Acquisition

Go Car Finance is an established brand in automotive finance in New Zealand. The Go Car Finance business is well capitalised, having recently secured a debt facility through a leading New Zealand bank, meaning Money3 only need make a minimal contribution from cash reserves to unlock growth in New Zealand. By adding an additional NZ$50m to MNY's auto loan book, the Go Car Finance acquisition provides the Company with scale, geographic expansion, potential cost saving synergies, and significant growth opportunities.

Money3, Managing Director, Mr Scott Baldwin said: "We are delighted to officially welcome Go Car Finance into the Money3 fold where, together, we are exceptionally well placed to finance Australasian consumers seeking finance for a car."

ENDS

For further information please contact:

Simon Hinsley
Investor Relations
+61 401 809 653
simon@nwrcommunications.com.au

Scott Baldwin
Managing Director
+61 3 9093 8255
s.baldwin@money3.com.au

Warrick Lace
Media Relations
+61 404 656 408
warrick@nwrcommunications.com.au

Money3 Corporation Limited
ABN 63 117 296 143
ACL 389 782
Money3
40 Graduate Road
Bundoora, Vic, 3083
T 61 3 9093 8255
F 61 3 9093 8227
E info@money3.com.au
investors.Money3.com.au
www.Money3.com.au