Sydney, 18 December 2009 - SAI Global Limited ("SAI Global")(ASX:SAI) today announced that it has acquired Vectis’s 36.4% shareholding in Espreon Limited, taking SAI Global’s ownership of Espreon to 99.2%. SAI Global intends to compulsorily acquire the remaining 0.8% of Espreon Limited as permitted under the Corporations Act. The consideration for the 34.5 million Espreon shares acquired from Vectis comprised a cash payment of $11.7M and 3.3M new SAI Global shares. The consideration, based on a 30 day VWAP for SAI shares, is 68 cents per Espreon share valuing Espreon at $64.5 million. Adjusting for net cash, the EV/EBITDA multiple for the acquisition is below 7. Commenting on the transaction, the Chief Executive Officer of SAI Global, Mr Tony Scotton, said "moving to 100% ownership of Espreon will enable SAI to extract the extra synergy benefits outlined by SAI in its original Bidder’s Statement and provide a further boost to earnings per share. Extra cost synergies are expected to be realised over the next two years through management integration of API and Espreon and the integration of technology platforms. The acquisition will be immediately accretive and is expected to add 2% to earnings per share on an annualised basis before taking into account the impact of the extra synergy benefits which will take time to realise". About SAI Global (www.saiglobal.com) SAI Global provides organisations around the world with information services and solutions for managing risk, achieving compliance and driving business improvement. SAI Global provides aggregated access services to standards, handbooks, legislative and property publications; and audits, certifies and registers your product, system or supply chain. SAI Global facilitates good governance and awareness of compliance, ethics and policy issues and provides training and improvement solutions to help individuals and organisations succeed. About Espreon (www.espreon.com) Espreon is a supplier of outsourced settlement services and information brokerage. Espreon offers national capability, industry leading technology, and a flexible range of integration capabilities. Its range of services include settlement activities, property enquiries and a wide range of online search certificates from authorities such as Land Titles and ASIC.
Investor and Media Inquiries Tony Scotton – Chief Financial Officer, SAI Global Limited
+612 8206 6182 or 0419 527 592 or tony.scotton@saiglobal.com Geoff Richardson- Chief Executive Officer, SAI Global Limited
+612 8206 6805 or 0429 314 698 or geoff.richardson@saiglobal.com
Disclaimer: This release may contain forward-looking statements that are not historical facts. Such statements may include financial projections and estimates and their underlying assumptions, statements regarding plans, objectives and expectations with respect to future operations, products, and services, and statements regarding future performance. Forward-looking statements are generally identified by the words "expect," "anticipate," "believe," "intend," "estimate," "plan" and similar expressions. Although SAI Global and its management believe that the expectations reflected in such forward-looking statements are reasonable, investors are cautioned that forward-looking information and statements are subject to various risks and uncertainties - many of which are difficult to predict and generally beyond the control of SAI Global - that could cause actual results and developments to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements.
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