MAI 0.00% $1.97 mainstream group holdings limited

Nov 24 (Reuters) - Mainstreambpo Ltd (MAI) - Asx alert-european...

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    Nov 24 (Reuters) - Mainstreambpo Ltd (MAI) -

    • Asx alert-european acquisition-mai.ax
    • Mainstreambpo purchases Alter Domus' hedge fund administration business in malta
    • Signed an asset sale agreement to purchase European hedge fund administration business of Alter Domus
    • Transaction will positively impact its fy18 revenue and earnings, with any fy17 revenue contribution likely to be negated by set up and transition costs
    • Sale involves a number of long term client contracts for fund administration services provided out of malta
    • Associated annualised revenue from acquisition of up to aud 1 million will be recurring revenue from monthly service fees
 
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Currently unlisted public company.

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