VERIS LIMITED — M&A Activity 2016

Aug 7, 2016

ASX/MEDIA RELEASE - OTC

8 August 2016

ACQUISITION OF WKC SPATIAL

OTOC is pleased to announce it has acquired the business and assets of WKC Spatial ( WKC ).

Founded in 1986 (formerly Warren King & Co), WKC provides surveying and geospatial services for pipeline infrastructure, construction and engineering, land and cadastral projects.

Headquartered in Perth, WKC is a national leader in pipeline infrastructure, having completed over 15,000km of pipeline construction projects across Australia. In recent years WKC has diversified its service offerings to include a range of specialist geospatial services for process and non-process infrastructure projects, including laser scanning, modelling and mapping.

Current clients of WKC include Perth Airport, Nacap Australia, WBHO Civil, BP Refinery and Aurecon.

WKC will be integrated with Whelans, OTOC’s Western Australian surveying business, creating enhanced scale and service capability.

Strategic Rationale

The acquisition of WKC is consistent with OTOC’s national surveying strategy:

• specialist surveying and geospatial capabilities

• strong reputation and blue-chip client base developed over 30 years

• national leader in pipeline infrastructure

• greater revenue base and depth of service capability in Western Australia

• operational synergies

Purchase Price

The purchase consideration is $1.9m cash.

Commenting on the Acquisition, OTOC CEO Simon Thomas said:

“The acquisition of WKC provides OTOC with valuable geospatial skillsets, backed by WKC’s 30 year reputation and blue-chip client base. In addition, the combination of Whelans and WKC creates a stronger operating platform and broader revenue base for the Western Australian surveying business.

WKC represents the first “bolt-on” acquisition opportunity for OTOC Limited and was identified to bring new service capacities and geographic market presence into our national surveying business. We are hopeful of making further acquisitions of this type as we continue to advance the national surveying strategy.”

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About OTOC

OTOC offers surveying, planning and design services throughout Australasia. A leading provider of professional consulting and innovative spatial solutions, OTOC delivers quality service to clients across a range of industry sectors.

OTOC Australia, OTOC’s Infrastructure division provides infrastructure construction and maintenance services to clients covering renewable energy, government, resources, utilities and remote areas.

For further information please contact

Corporate Office OTOC Limited Tel (08) 9317 0628

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