Vysarn to Acquire CMP Consulting Group; Shares Hit Fresh 52-Week High

Water services company Vysarn (ASX:VYS) agreed to acquire 100% of the issued shares in CMP Consulting Group from three private entities for an upfront cash consideration of AU$24 million and 10 million shares, according to a Friday filing with the Australian Securities Exchange.

Deferred consideration of up to 30 million shares over three years is subject to CMP achieving earnings before interest tax and depreciation targets, the filing said.

Additionally, the company received commitments for a placement of about 95.5 million new shares at AU$0.40 apiece to raise about AU$38.2 million, according to the filing.

Vysarn shares rose past 3% in recent Friday trade and earlier hit a new 52-week high.

Price (AUD): $0.49, Change: $+0.02, Percent Change: +3.16%