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DGI Holdings in pre-open, option to acquire online education company

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DGI Holdings (ASX: DGI) has been granted a trading halt by the Australian Stock Exchange this morning, with its shares placed in pre-open.

The halt was requested pending an announcement regarding the option to acquire online education company, iCollege Pty Ltd.

Last month DGI Holdings signed an option agreement to acquire 100% of the issued capital of iCollege Pty Ltd, with consideration for grant of the option being $75,000.

If exercised, the consideration for the acquisition of iCollege is 250 million shares in DGI plus further shares based on performance hurdles.

iCollege is a spin out of a profitable existing online education business using a proven cloud based software platform to deliver self paced career and professional development courses worldwide.

The halt will remain in place until the opening of trade on Friday 27th December 2013, or earlier if an announcement is made to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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ASX:DGI
Market: ASX
Market Cap: £0.00
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