Sydney, Feb 9, 2017 AEST (ABN Newswire) - The Board of Australian communications specialist MNF Group (ASX:MNF) is pleased to announce it has completed the purchase of Conference Call International (CCI), the largest independent conferencing and collaboration provider in Australia.

MNF Group paid $18.0m ($17.5m net of cash in the business) for CCI, which represents a multiple of 5.0 times current year forecast EBITDA.

Funding

MNF has funded the acquisition by raising $18.6m through a heavily oversubscribed placement of 4.13m shares to institutional and sophisticated investors at $4.50 per share (representing a 2.8% discount to the 5 day VWAP). Taylor Collison was Sole Lead Manager to the Placement.

Share Purchase Plan

MNF has also offered eligible shareholders in Australia the opportunity to participate in a Share Purchase Plan (SPP) at the same price of $4.50 per share. This raising is capped at $3.0m with a maximum allotment of shares to the value of $15,000 per shareholder. The SPP offer was opened on 7 February and will close on 21 February 2017. Details of the SPP has been sent to all eligible shareholders who were on the MNF share register at close of business on 31 January 2017. As there were over 3,000 eligible shareholders on the register at that time, significant scale back on SPP applications may be necessary.


About MNF Group Ltd

MNF GroupMNF Group Limited (ASX:MNF) is an integrated telecommunications software and network provider, specialising in Internet communications. MNF Group was founded in 2004 and listed on the ASX in 2006. The company has 72.8 million shares on issue and has operated profitably since 2009 paying dividends to its shareholders every six months since September 2010.

The Group operates a global Smart Network carrying over 6 billion voice minutes per annum, with Points of Presence (POPs) in Los Angeles, New York, Hong Kong, Singapore, London, Frankfurt, Sydney and Auckland. Domestically, the Group operates the largest, fully interconnected IP Voice network in Australia.

MNF Group has a reputation for quality, value and innovation, being the recipient of numerous awards including the ACOMMS award for innovation (2017, 2016), Edison Award (2017), the Australian Growth Company Awards (2016), the iAwards for Innovation (2016), Forbes Asia’s 200 Best Under a Billion (2014 & 2015), Deloitte Technology Fast 50 (2008, 2009, 2010, 2012, 2013, 2014) and CeBIT Outstanding Project Award (2013), and many more.

MNF Group companies includes retail brands: MyNetFone, Connexus, CallStream, PennyTel and The Buzz; conferencing brands Ozlink, Eureka, Express Virtual Meetings and wholesale brands TNZI, Symbio Networks and iBoss.

For further information about MNF Group Limited please visit: http://mnfgroup.limited/

  


Contact

Renee Papalia
Executive Assistant to CEO
E: renee.papalia@mnfgroup.limited
T: +61-2-8008-8231



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