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Praemium Limited (ASX:PPS)

ALERT: Price-sensitive ASX Announcement for PPS
Current share price for PPS : $0.720 -0.14 (-16.28%)+
Announcement
Release
28 Nov 2025 9:55AM
Price at Release
$0.860
Full Release
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Summary
Praemium Limited provided an update on the earn out related to its acquisition of the OneVue Platform Business from Iress Limited. The acquisition, completed on 15 April 2024, included an earn out contingent on retention and growth in funds under administration (FUA) from IOPB clients. Praemium issued the second earn out statement to Iress, indicating no payment is due as the retained FUA did not exceed the $3 billion threshold due to client outflows and contract terminations. Praemium expects the transaction to generate approximately $3 million in annual EBITDA through synergies, with no material impact on earnings expectations from the terminations.
Key Points
  • Praemium's acquisition of OneVue Platform Business completed on 15 April 2024
  • Earn out linked to retention and growth in FUA from IOPB clients
  • Second earn out statement issued, with nil owed due to FUA below $3 billion threshold
  • Client outflows and contract terminations affected FUA
  • Expected $3 million annual EBITDA from transaction synergies
  • Terminations not expected to materially impact earnings expectations
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.