Embark Early Education (ASX:EVO) said that conditional contracts were executed for two further centers in Queensland for a total purchase price of AU$3.7 million, according to a Thursday Australian bourse filing.
The contracts are subject to customary licensing and other regulatory approvals. Settlement is estimated to be in late May for one and early July for the other. The acquisition will be funded by a drawdown of bank debt, which currently stands at AU$4.4 million.
Due diligence continues on further acquisitions, per the filing.
Its board resolved to pay a further quarterly dividend of AU$0.015 per share as an interim dividend for the fiscal year 2024, to shareholders on record as of May 27, with payment expected on June 17.
Its shares rose 4% in recent trading on Thursday.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.