Carly Holdings Announces Merger with Carbar and Strategic Shift

The latest announcement is out from Carly Holdings Limited ( (AU:CL8) ).

Carly Holdings Limited has announced a proposed merger of its Carly Car Subscription business with Carbar Holdings Pty Ltd, which will involve the sale of its car subscription operations and related entities. This strategic move aims to achieve economies of scale and access to capital, potentially accelerating growth for both brands. As part of the transition, the company will reduce its overheads and seek new opportunities while maintaining its ASX listing. The CEO, Chris Noone, will step down following the merger, marking the end of his tenure since 2014, during which he transformed the company into a leading car subscription service in Australia.

More about Carly Holdings Limited

Carly Holdings Limited operates in the car subscription industry, providing flexible vehicle access through its Carly Car Subscription service. The company has been a pioneer in the car subscription market in Australia, offering innovative products like EV Trial and CarlyNow, and has established strong partnerships with automotive manufacturers, dealers, and leasing companies.

YTD Price Performance: 30.0%

Technical Sentiment Consensus Rating: Buy

Current Market Cap: A$3.49M

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