Count Advances Oracle Acquisition with Enhanced CBA Funding Support
Count Limited (ASX: CUP) has moved closer to completing its acquisition of Oracle Group after receiving confirmation from the Australian Competition and Consumer Commission (ACCC) that the transaction does not require formal notification. The acquisition is expected to reach completion shortly, once the outstanding pre-completion requirements have been satisfied. Management believes the transaction will significantly expand Count’s presence in Australia’s wealth and accounting sector by increasing the scale of its employed financial adviser network while strengthening its investment solutions capabilities.
To support the transaction and future expansion, Count has secured a new funding package with the Commonwealth Bank of Australia. The facility includes a AU$77.0 million three-year acquisition loan, a AU$33.0 million pre-approved accordion facility for additional funding flexibility, and a AU$6.6 million working capital facility. The new arrangement will replace the company’s existing Westpac debt facilities, while any earn-out payments related to the acquisition are expected to be financed through future operating cash flows and debt drawdowns. According to management, the revised funding facility enhances financial capacity and positions the business to pursue its long-term strategic objectives.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au
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Count Advances Oracle Acquisition with Enhanced CBA Funding Support
Count Limited (ASX: CUP) has moved closer to completing its acquisition of Oracle Group after receiving confirmation from the Australian Competition and Consumer Commission (ACCC) that the transaction does not require formal notification. The acquisition is expected to reach completion shortly, once the outstanding pre-completion requirements have been satisfied. Management believes the transaction will significantly expand Count’s presence in Australia’s wealth and accounting sector by increasing the scale of its employed financial adviser network while strengthening its investment solutions capabilities.
To support the transaction and future expansion, Count has secured a new funding package with the Commonwealth Bank of Australia. The facility includes a AU$77.0 million three-year acquisition loan, a AU$33.0 million pre-approved accordion facility for additional funding flexibility, and a AU$6.6 million working capital facility. The new arrangement will replace the company’s existing Westpac debt facilities, while any earn-out payments related to the acquisition are expected to be financed through future operating cash flows and debt drawdowns. According to management, the revised funding facility enhances financial capacity and positions the business to pursue its long-term strategic objectives.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au