LaserBond Limited (ASX:LBL) agreed to acquire 40% stake in Gateway Parts & Services Pty Ltd/ business of Gateway Hydraulics and Hardchrome for AUD 10.1 million on February 23, 2024. The consideration includes AUD 4.8 million in cash and 5.1 million shares of LaserBond Limited (ASX:LBL). At the settlement LaserBond Limited (ASX:LBL)will hold 40% of Gateway.

The transaction is subject to the final immaterial conditions precedent. Dagmar Parsons, a current non-executive Director of LaserBond Limited (ASX:LBL), will be appointed to the Board of Gateway after settlement.