OPUS Group Limited entered into acquisition agreement to acquire Book Printing Business from Ovato Limited (ASX:OVT) for AUD 8.5 million on May 24, 2022. OPUS intends to settle the consideration partly by reallocating the unutilised proceeds from the
initial public offering of Left Field Shares and partly by its internal resources. In a related transaction OPUS and Ovato entered into the Subscription Agreement, pursuant to which OPUS has conditionally agreed to subscribe for, and Ovato has conditionally agreed to issue, the Convertible Note at the issue price of AUD 2.5 million. Transaction is subject to approval from Australian Competition & Consumer Commission. ACCC approved the transaction on June 14, 2022. The transaction is expected to complete by June 15, 2022.

OPUS Group Limited completed the acquisition of Book Printing Business from Ovato Limited (ASX:OVT) on June 17, 2022.