EML buys Perfectcard DAC Ireland

Company News

by Rachael Jones

Payment services provider EML (ASX:EML) has acquired 74.86 per cent of Perfectcard DAC Ireland’s first authorised eMoney institution and a FinTech company providing incentive and corporate expense solutions.

The Total maximum acquisition price of over $9 million.

Earnout is payable 82 per cent in cash and 18 per cent in EML shares with a price of A$1.36.

The share price was calculated based on the volume weighted average price of EML’s shares during the 20 days immediately preceding the completion date.

As Perfectcard is regulated by the Central Bank of Ireland, the regulator needs to approve EML as majority shareholder approval is expected in the following months.

Shares in EML (ASX:EML) closed up 0.10 per cent to $30.63 yesterday