This article is 15 years old. Images might not display.
Coal Link, which has more than a dozen leading coal suppliers and traders as clients, has now been rebadged as QML Services.
The acquisition is worth $A1.4 million ($US1.09 million), paid for in 2.13 million QMastor shares and $483,000 in cash.
The deal will be funded through QMastor’s new debt facility and the company is expecting to issue a minimum of 3.27 million shares, representing 7.5% of the new issued capital and 8.1% of the existing issued capital.
“QML Services is a profitable niche company in the bulk logistics space,” QMastor managing director Trent Bagnall said.
“The acquisition will add significant value for QMastor shareholders and delivers on the promise of acquiring profitable companies that are synergistic and accretive to earnings per share.
“We expect to leverage the success of the business in the Hunter Valley coal chain and pursue opportunities in similar bulk commodity supply chains across Australia, as well as international companies as they arise.”
QMastor shares closed up half a cent yesterday to 34c and remain unchanged this morning.
