News and Announcements
Omni Market Tide Sings Agreement to Acquire RightCrowd and Capital Raise
- Published October 19, 2016 11:42AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
19th October 2016, ASX Announcement
- Agreed pre-acquisition value contribution of OMT at 8.18%;RightCrowd at 91.82%
- $35 million capital raising under a prospectus (subject to shareholder approval) at a price which implies a pre-money valuation of at least $85 million for the merged OMT and RightCrowd entity
- Mandate with Morgans for capital raising
- Consolidation of all OMT securities on a 10:1 basis (subject to shareholder approval)
- Appointment of Peter Hill to the board (subject to shareholder approval)
- Change in nature and scale of OMT’s activities (subject to shareholder approval)
- Name change to RightCrowd Limited (subject to shareholder approval)
- Re-compliance with Chapters 1 and 2 of the ASX Listing Rules
1. Introduction
The Board of Omni Market Tide Limited (Company or OMT) is pleased to announce today that it has entered into a Share Sale and Purchase Agreement (Agreement) to acquire Sentrii Pty Ltd ACN 108 411 427 (Sentrii) and the RightCrowd business (RightCrowd) (Acquisition).
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