MAAS Group: Completes acquisition of Blackwater Quarries

MAAS Group Completes acquisition of Blackwater Quarries

• MAAS Group (MGH) successfully acquires Blackwater Quarries and plans to use it as a platform for continued growth
• Total consideration consisted of a $25.75 million cash payment as well as the issue of about 194,000 shares in MGH
• Further cash consideration will be payable over five years, based on Blackwater Quarries achieving defined operating targets
• The quarries are anticipated produce more than 550,000 tonnes of construction aggregates each year while the plant produces about 10,000 cubic meters
• Shares are trading 2.22 per cent higher today at $4.60 each