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G. K. Goh Unit to Divest Entire Interest in Definitiv Group

MT Newswires ·  {{timeTz}}

11:38 PM EDT, 08/17/2021 (MT Newswires) -- G. K. Goh (SGX:G41) subsidiary Boardroom has agreed to sell its entire 31.52% interest in Australian payroll services provider Definitiv Group to Access Workspace, according to an after-market Tuesday filing.

Under the deal, Boardroom will sell 1,714 ordinary shares in Definitiv Group to Access Workspace, a part of business management software provider The Access Group.

The deal includes a cash payment along with an earn-out amount post-completion, provided Definitiv Group's annual recurring revenue exceeds certain targets.

G. K. Goh does not expect the transaction to have a material impact on the earnings per share or the net tangible asset per share of the group for the financial year ending Dec. 31.

The company's shares were down nearly 2% in recent trade.

Price (SGD): S$1.06, Change: S$-0.02, Percent Change: -1.85%

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