InvestSMART

Cluey Ltd (ASX:CLU)

ALERT: Price-sensitive ASX Announcement for CLU
Current share price for CLU : $0.012 -0.057 (-82.61%)+
Announcement
Release
8 Dec 2025 8:53AM
Price at Release
$0.069
Full Release
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Summary
Cluey Ltd (ASX: CLU) has entered into a binding share purchase agreement to acquire 100% of the Education Futures Group Pty Ltd, the holding company of Art of Smart group of companies. The acquisition's purchase price is structured to be between $3,029,123.50 and $6,500,000, dependent on the performance of the AOS Group. The acquisition is structured in two payment tranches, with specific conditions attached to the issuance of Cluey's shares under ASX Listing Rule 7.1. The transaction includes an earn-out payment based on the financial performance of the AOS Group for the financial year ending 30 June 2027. Voluntary escrow arrangements are also in place, particularly affecting the shares issued to the Kunz Corporation, which are subject to restrictions depending on the employment status of Rowan Kunz, a key personnel of AOS. The completion of this acquisition is contingent upon satisfying customary conditions precedent, and it marks a strategic expansion of Cluey's educational offerings.
Key Points
  • Cluey Ltd enters a binding share purchase agreement to acquire 100% of Education Futures Group.
  • The purchase price ranges from $3,029,123.50 to $6,500,000 based on AOS Group's performance.
  • The structure includes a cash and scrip transaction with two tranches of payment.
  • Tranche 2 involves an earn-out payment contingent on AOS Group's FY27 financial performance.
  • Shares issued are within Cluey's 15% Listing Rule 7.1 capacity.
  • Voluntary escrow terms apply to shares issued to Kunz Corporation, with potential extension based on employment status.
  • Completion is subject to satisfying various customary conditions precedent.
  • Cluey's acquisition aims to expand its educational service offerings.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.