EML Announces Sale of Sentenial Business

Agreement to sell the Sentenial business for an enterprise value of €32.75m (A$54.1m1), subject to potential adjustments

EML Announces Sale of Sentenial Business

Key Highlights:

• Agreement to sell the Sentenial business for an enterprise value of €32.75m (A$54.1m1), subject to potential adjustments

• Earnings and cashflow accretive to EML in year 1 in light of Sentenial being unprofitable

• Further simplifies EML’s organisational structure and improves EML’s ability to focus on its profitable core businesses

• Proceeds from the sale will be used to reduce debt and strengthen EML’s balance sheet

• Completion of the sale is subject to a number of conditions precedent including required regulatory approvals.

This announcement is from the company approved ASX announcement on 15/3/2024