Macmahon Holdings Limited - Acquisition of Decmil Completed

About this update from Macmahon Holdings Limited

Macmahon Holdings Limited (ASX:MAH) ('Macmahon' or 'the Company') is pleased to announce that the acquisition of Decmil Group Limited (ASX:DCG) (' Decmil ') has completed, with the Schemes of Arrangement having been implemented today. Eligible Decmil ordinary shareholders and Decmil RCPS holders will today receive $0.30 per share and $0.343 per RCPS, respectively. Macmahon will operate Decmil as a wholly owned subsidiary and intends to maintain the existing Decmil branding, with the Macmahon civil business to integrate into the subsidiary. Decmil will continue to be led by its current Chief Executive Officer, Rod Heale . Micheal Finnegan , Managing Director and Chief Executive Officer of Macmahon said: 'The acquisition of Decmil is aligned with Macmahon's strategic focus to diversify earnings, reduce capital intensity and improve return on average capital employed. Decmil provides an established, scalable foundation to accelerate Macmahon's growth in civil infrastructure, with exposure to a favourable contracting outlook across renewables, government infrastructure and resource infrastructure development. I look forward to working with the Decmil team members who are joining Macmahon, and the success the combined group can deliver to our shareholders.' Contact: Michael Finnegan Managing Director and Chief Executive Officer of Macmahon Tel: +61 8 9232 1705 About Macmahon Macmahon is an ASX listed company offering the complete package of mining and civil infrastructure services throughout Australia and Southeast Asia . Macmahon's extensive experience in surface mining, underground mining and civil infrastructure has established the Company as the contractor of choice for resources, non-resources, public infrastructure and renewables projects across a range of locations and sectors. Macmahon is focused on developing strong respectful relationships with its clients whereby both parties work in an open, flexible and transparent way to ensure mutually beneficial outcomes whilst also minimising risks for both parties. Visit www.macmahon.com.au for more information. (C) 2024 Electronic News Publishing, source ENP Newswire

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