The vendors will also be entitled to a performance bonus amounting up to $5.1 million, should Gainhealth achieve a valuation of $11.6 million within 12 months from the SPA’s completion date. Of the amount, up to $4.4 million will be payable in cash, with the remainder to be settle via the issuance of up to 20 million new ordinary shares in MCE.
Catalist-listed manufacturing company Metal Component Engineering (MCE) is acquiring an 85.07% stake in healthcare business Gainhealth for $4.25 million.
MCE has entered into a sale and purchase agreement (SPA) with three individuals to acquire 1,715 ordinary shares in Gainhealth. $3.8 million of the consideration will be settled via cash, while $481,000 will be settled through the issuance of 13 million new ordinary shares in MCE to the vendors at an issue price of 3.7 cents per share.
