Hills Limited
(ASX:HIL) has announced that due to current market volatility it will delay its proposed merger of Hills Health Solutions with Lincor Solutions to form Lincor Limited.
As a result the proposed Lincor Limited IPO to raise the required capital has now been deferred.
Also deferred is a proposed demerger of the shares held by Hills in Lincor Limited to eligible Hills shareholders.
The company has indicated both it and Lincor Solutions remain committed to the merger given the synergies available to the combined business and will seek approval to proceed in 2017.
Hills Limited reported a net loss of $68.33 million at 30 June 2016.
