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Connexion Mobility Ltd (ASX:CXZ)
ALERT: Price-sensitive ASX Announcement for CXZ
Current share price for CXZ : $0.022 -0.001 (-4.35%)+
Announcement
Release
22 May 2026 8:21AM
Price at Release
$0.023
Full Release
Summary
Connexion Mobility Ltd announced the acquisition of Hallam Road Automotive (HRA), a prominent independent automotive service and repair center in Melbourne, Australia. The acquisition, valued at approximately A$5.0 million, is expected to immediately improve Connexion's earnings per share by 25-35%. The transaction will help diversify Connexion's earnings and reduce its foreign exchange risk. HRA, known for its technical excellence and strong local reputation, will serve as a platform for further expansion into automotive software and service markets. HRA founder Elie Chakkour will assist in the transition, ensuring continuity and leveraging Connexion's resources for growth.
Key Points
- Connexion acquires Hallam Road Automotive for A$5.0 million.
- Expected earnings per share increase of 25-35%.
- Transaction to reduce foreign exchange risk for Connexion.
- HRA's founder to assist in a 12-month transition.
- HRA known for technical excellence and local reputation.
- Acquisition to serve as a platform for expansion into automotive software.
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.
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