DRA GLOBAL LIMITED - DRA completes sale of APAC Maintenance and Construction Business

DRA completes sale of APAC Maintenance and Construction Business

DRA Global Limited
(Incorporated in Australia under the Corporations Act 2001 (Cth))
ACN 622 581 935
ASX / JSE Share Code: DRA
ISIN: AU0000155814
("DRA" or "the Company")
JSE Sponsor: Pallidus Exchange Services Proprietary Limited

                                                     ASX / JSE ANNOUNCEMENT
                                                                                                         12 September 2022




DRA COMPLETES SALE OF APAC MAINTENANCE AND CONSTRUCTION BUSINESS

DRA Global Limited (ASX / JSE: DRA) (‘DRA’ or ‘the Company’) is pleased to announce the successful completion of the sale to 
KAEFER Integrated Services Pty Ltd (‘KAEFER’) of the business of G&S Engineering Services Pty Ltd and G&S Support Services 
Pty Ltd (collectively ‘G&S’), comprising selected key contracts, assets and liabilities (1).

This transaction was completed on 10 September 2022 (‘Completion Date’) with all conditions precedent met, along with agreement 
and execution of a transitional services agreement (‘TSA’) between G&S and KAEFER.

Net proceeds, after adjustments, from the sale were approximately A$3.4 million, and based on final asset and liability carrying 
values disposed, a pre-tax loss of approximately A$4.1 million (2) will be included in statutory EBIT for the financial year ending 
31 December 2022. The pre-tax loss will be excluded from DRA’s Underlying EBIT (3).

The TSA is for a period of not more than three months from the completion date, with corporate services principally charged on a 
cost reimbursable basis between the parties.

DRA will retain the respective legal entities and remaining elements of the business not acquired by KAEFER. Net proceeds from 
the sale will be applied to the funding of remaining net working capital and to reduce the residual liabilities of G&S. Current 
claims, which are the subject of existing litigation to which G&S is a party, will not transfer to KAEFER and will continue to 
be managed by the DRA Group.


- ENDS -


This announcement was approved for release by James Smith, Interim Chief Executive Officer.




For further information, please contact:

Investor queries:                                                         Media enquiries:
Ben Secrett                                                               Paul Ryan
Group Company Secretary                                                   Citadel-MAGNUS
Ph: +61 8 6163 5900                                                       M: +61 409 296 511
shareholders@draglobal.com                                                pryan@citadelmagnus.com




About DRA Global Limited

DRA Global Limited (ASX: DRA | JSE: DRA) (DRA or the Company) is a multi-disciplinary consulting, engineering, project delivery and
operations management group predominantly focused on the mining and minerals resources sector. DRA has an extensive global track
record, spanning more than three decades and more than 7,500 studies and projects as well as operations, maintenance and optimisation
solutions across a wide range of commodities.

DRA has expertise in mining, minerals and metals processing and related non-process infrastructure including sustainability, water and
energy solutions for the mining industry. DRA delivers advisory, engineering and project delivery services throughout the capital project
lifecycle from concept through to operational readiness and commissioning as well as ongoing operations, maintenance and shutdown
services.

DRA, headquartered in Perth, Australia, services its global customer base through 16 offices across Asia-Pacific, North and South
America, Europe, Middle East and Africa.


1   See ASX announcement dated 29 July 2022 for full details of the transaction, available at https://www.draglobal.com/investors/.
2   The loss is unaudited.
3   DRA’s results are reported under the Australian Accounting Standards (AAS) as issued by the Australian Accounting
    Standards Board which are compliant with International Financial Reporting Standards (IFRS) as issued by the
    International Accounting Standards Board. DRA discloses certain non-IFRS measures including Underlying EBITA,
    Underlying EBIT, adjusted earnings per share and headline earnings per share that are not prepared in accordance
    with IFRS. These non-IFRS measures should only be considered in addition to, and not as a substitute for, other
    measures of financial performance prepared in accordance with IFRS.




Physical Level 8, 256 Adelaide Terrace / Perth WA 6000 / Australia // Postal PO Box 3130 / East Perth WA 6892 / Australia
Telephone +61 (0)8 6163 5900 // info@draglobal.com // ACN 622 581 935 // ASX: DRA / JSE:DRA


draglobal.com                                                                                    
Date: 12-09-2022 07:05:00
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