March 4, 2026
Mailpac Group Limited (MAILPAC) has provided the following update regarding the acquisition of the business and assets of My Cart Quick Limited:
- By mutual agreement of the parties, the closing date of the transaction has been extended to October 1, 2026. Consideration for the acquired assets will be $1.21bn, payable in newly issued MAILPAC shares. MAILPAC has further advised that as the consideration is entirely non-cash, the transaction will not impact the Company’s cash position.
- The company anticipates that the final determination of the purchase price allocation will be published on or before March 31, 2026, in the financial statements for the year ended December 31, 2025.
- The transaction has not yet closed, and, accordingly, no Extraordinary General Meeting (EGM) has been convened at this time. Following the publication of the year-end 2025 audited financial statements, MAILPAC will take the necessary steps to call an EGM at the appropriate time to consider matters related to the transaction, including the proposed rebranding of the company.
- As closing has not yet occurred, no shares have been issued to the owner/operators of MyCart.
- The company has formally engaged Ernst & Young to undertake the purchase price allocation (PPA) exercise in relation to the acquisition.
For further details, visit www.jamstockex.com
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