Merger & Demerger
On 13 September 2016, Hills Limited (ASX:HIL) (“Hills”) announced the proposed merger of Hills Health Solutions (“HHS”) with an international healthcare technology leader, Lincor Solutions Inc, to form Lincor Limited (“Merger”) – and the proposed demerger of the shares held by Hills in Lincor Limited to eligible Hills shareholders (“Demerger”).
Due to current market volatility, the proposed Lincor Limited initial public offering (“IPO”) to raise the required capital has now been deferred along with the proposed Demerger. Hills and Lincor Solutions Inc shareholders, however, remain committed to the Merger given the significant synergies available to the combined business.
Subject to suitable market conditions, Hills and the Lincor Solutions shareholders then propose to proceed with the Demerger and Lincor Limited IPO (including an Extraordinary General Meeting of Hills shareholders to approve the Demerger) in 2017.
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