This article is from the Australian Property Journal archive
QUEENSLAND based listed childcare centre operator G8 Education has bought properties in Sydney.
The acquisition of the additional two centres will be conducted through the issue of scrip and a performance based cash payment. The Heads of Agreement is subject to due diligence and National Australia Bank consent.
Chairperson Jenny Hutson said the total forecast centre based EBIT for the two centres for the 2011 financial year is $701,373. G8 Education Limited will issue 2,805,493 shares in total at an issue price of $0.60 per share.
In addition, a performance based cash payment will be made on 31 August 2011 based on the audited performance of the two centres for the financial year ended 30 June 2011. The maximum cash payment will be $1.122 million.
Australian Property Journal
