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 one of Asia-Pacific’s fastest growing technology companies. Listed on the ASX since 2006, it is now capitalised at around $300M, and twice winner of the Forbes Asia-Pacific “Best under a Billion” award. Headquartered in Sydney, Australia, the company has over 250 people located across Asia-Pacific, Europe and North America. MNF develops and operates a global communications network and software suite enabling some of the world’s leading innovators to deliver new-generation communications solutions.

As the world moves to IP, MNF Group is building the brands, services, network and technology to lead the way.

  


Contact

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



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