Skydive the Beach Group Limited (hereafter known as "Sky…

Skydive the Beach Group Limited (hereafter known as "Skydive") ordinary shares are listed on the Australian Securities Exchange following the company's $25 million non-underwritten Initial Public Offering ("IPO") in 2015. Veritas Securities was the corporate advisor and lead manager of the IPO and received a fee of $1.25 million for their services. On April 4, 2017 Skydive announced the acquisition of Reef Magic Cruises ("RMC"), and the details are contained in the ASX announcement dated 03/04/2017 with the Headline "Acquisition of Reef Magic Cruises" (hereafter referred to as Announcement). RMC is a tourism operator in Cairns offering day trips to the Great Barrier Reef. Upon settlement of the transaction RMC will then become a wholly-owned subsidiary of Skydive. Skydive already has plans for generating substantially higher returns from its RMC business and one of its first strategies is to purchase a smaller, faster passenger vessel, internally named the Reef Magic 4. Of course, before they purchase the vessel, a rigorous financial analysis is needed to confirm if the vessel will contribute to increasing the wealth of Skydive shareholders.
Skydive the Beach Group Limited (hereafter known as "Sky…

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