Aspen Group sells Eureka Group shares for $27.5m
Key points
- Aspen Group sells remaining 55m shares in Eureka Group Holdings for $0.50 each
- Proceeds to be used to repay debt, reducing net debt to $92m and gearing to 14%
- Aspen's Underlying EPS guidance for FY25 unchanged at 16.7 cents
Full summary
Aspen Group (ASX: APZ) has announced the sale of its remaining 55m shares in Eureka Group Holdings (ASX: EGH) at a price of $0.50 each, totaling $27.5 million. The proceeds from the expected settlement of the EGH share sale, along with Aspen's recent equity raising, will be applied to repay debt, reducing Aspen's net debt to about $92m and gearing to about 14%. Aspen's Underlying EPS guidance for the 2025 financial year (FY25) is unchanged at 16.7 cents per share. The gain on the sale of EGH shares will not be included in Aspen's Underlying Earnings. The announcement was authorised by the Board of Aspen Group Limited.
Guidance
Aspen's Underlying EPS guidance for FY25 is unchanged at 16.7 cents.
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