Forum Archive Index - July 2000

["simon dallimore" <smndallimore@hotmail.com>]

Kevin,
I sold because I was a stupid investor who needed the money today! Here's 
more bad news for me and good news for RMG investors.
--------------------------
RMG
21/07/2000
ASSET

REL: 1335 HRS RMG Limited

ASSET: RMG: DEAL TO ACQUIRE CREDIT SOLUTIONS AUSTRALIA

RMG has announced that it has acquired an option to purchase Credit 
Solutions Australia pty for under A$9m. The acquisition will provide 
additional revenues of approximately A$10m and is subject to completion of 
due diligence by RMG and is expected to settle at the end of August. The 
deal will see RMG's expected revenue exceed A$70m for the year ended 
30/06/2001. The transaction is expected to increase RMG's
market share to about 25% of the Australian collections market.
The merging of the various sections into RMG group is expected to be
completed by the end of December 2000.

RMG CEO Paul Cooney said that Credit Solutions had enjoyed strong growth
under its current management team, who would be retained to assist in 
further growing RMG's commercial business services division, particularly 
its legal services division.

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