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).
To view the full announcement, please click on the button below.
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