- 02 June 2009
The Board of Directors of AusGroup Limited ('Company') wishes to refer to the announcements of the Company on 19 and 22 May 2009 in respect of the Acquisition. Unless otherwise defined herein, terms defined in those announcements shall have the same definitions herein.
The Board wishes to announce that the Company has received the in-principle approval (dated 2 June 2009) from the Singapore Exchange Securities Trading Limited (the 'SGX-ST') for the listing and quotation of up to 14,409,904 Consideration Shares on the SGX-ST pursuant to the Acquisition, subject to the disclosure via SGXNET of the view of the Audit Committee of the Company on whether the Acquisition is in the best interests, and not prejudicial to the interests of, the Company and its shareholders, taking into account the consideration amount and the loss before tax incurred by Modern Access Services Pty Ltd for the financial year ender 30 June 2008.
Please note that the SGX-ST’s in-principle approval is not to be taken as an indication of the merits of the Company, its subsidiaries, the Consideration Shares, and / or the Acquisition.
By Order of the Board
Mr John Sheridan
Chief Executive Officer and Managing Director