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RDM Corporation announces receipt of Xign sale proceeds |
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RDM Corporation has announced that the sales transaction has been completed and RDM has received its initial net cash proceeds of $8.6 million ($7.95 million U.S.).
Recent changes in the exchange rate have reduced the proceeds in Canadian dollars. In addition, RDM may receive additional proceeds of up to $1.2 million ($1.05 million U.S.) which are being held in escrow for a one year period from the closing date. The amount that may be received from escrow is impacted by a number of items including the final purchase price adjustments. The one time impact of the disposal on EPS, to be recognized in RDM's fiscal third quarter, is $0.10 to $0.16 which is below the previously estimated range due to the change in exchange rates. |
