Mastermyne to acquire DMS

Company News

Mining services provider Mastermyne Group Limited (ASX:MYE) will acquire Diversified Mining Services for $20 million.
 
The company says the purchase of the Queensland mining maintenance and engineering services provider is a significant step towards expanding its service offering.
 
The purchase will involve issuing $9.7 million of Mastermyne shares to DMS shareholders as well as $10.3 million in cash to payout and restructure the company’s debt.
 
Chief Executive Tony Caruso says the DMS business will provide a key suite of services that complement the company’s current offering.
 
The deal is subject to DMS shareholder approval.
 
Mastermyne reported a net profit of $2.99 million in the 2014 financial year.

Are you a 708 sophisticated investor?

A sophisticated investor is defined under Section 708 of the Corporations Act (net assets of $2.5 million or annual incomes in excess of $250,000).

They are eligible to receive information regarding wholesale investment opportunities that are not available to regular or retail investors.

Please subscribe if you would like to be alerted to these types of opportunities.