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HiTech Group Australia Limited (ASX:HIT)

ALERT: Price-sensitive ASX Announcement for HIT
Current share price for HIT : $1.260 0.36 (40%)+
Announcement
Release
24 Jun 2026 8:20AM
Price at Release
$0.900
Full Release
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Summary
HiTech Group Australia Limited has submitted a proposal to acquire certain assets from Hudson Global Resources (Aust) Pty Limited under administration. The proposal involves acquiring the UpperGround business assets and employees for up to $15 million, structured into an upfront payment, a contingent payment upon satisfactory due diligence, and a deferred consideration. The proposal is subject to creditor approval and regulatory conditions, with the funding expected to be a mix of debt and equity. HiTech aims to maximize shareholder value and ensure continuity for the acquired business and its employees.
Key Points
  • HiTech Group Australia Limited proposes acquisition of assets from Hudson Global Resources.
  • Acquisition involves UpperGround business assets for up to $15 million.
  • Transaction structured with upfront, contingent, and deferred payments.
  • Proposal subject to creditor approval and regulatory conditions.
  • Funding to be a mix of debt and equity.
  • HiTech aims to maximize shareholder value and provide continuity for acquired business.
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.