PROPOSED MERGER OF HILLS HEALTH SOLUTIONS AND LINCOR

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Hills Limited (ASX: HIL, “Hills”) announces a proposed merger of its Hills Health Solutions (“HHS”) business with Lincor, Inc (“Lincor Solutions”) to form Lincor Limited, a newly incorporated company which will be demerged from Hills on completion of the transaction and listed on the ASX

Lincor Limited will be a leading global provider of patient engagement technology solutions with strong recurring revenues and a growing Software as a Service (SaaS) platform

Hills and Lincor Solutions’ shareholders will each hold approximately half of Lincor Limited’s shares prior to new capital being raised to provide financial flexibility, repay debt, pay transaction costs and accelerate global growth

Lincor Limited will be debt-free on listing

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