• Embark to pay AUD0.015 per share as interim dividend for FY2024
• Executed conditional contracts for 2 additional centres in Queensland
• Total of 180 licensed places, annual EBITDA of $923,000, purchase price of $3.7m

Embark Early Education Ltd (ASX:EVO) has announced that its Board of Directors has resolved to pay a further quarterly dividend of AUD0.015 (one and a half cents) per share as an interim dividend for FY2024. This dividend will be fully franked. The ex-dividend date will be 26 May 25, the record date will be 27 May 25, and the payment date will be 17 June 25. Additionally, Embark has executed conditional contracts for the acquisition of two further childcare centres in Queensland. These acquisitions are subject to customary licensing and other regulatory approvals. The two centres have a total of 180 licensed places and an annual EBITDA of $923,000, with a total purchase price of $3.7 million. The acquisitions will be funded by drawdown of bank debt, which currently stands at $4.4 million. Settlement for one centre is estimated to be in late May, and the other in early July. Embark had 24 centres prior to 2024 and acquired 14 centres during 2024. These additional two centres will bring the total to 40 centres once settlement is completed. The company continues to explore further acquisition opportunities.