Ezion Sells Two Australian Subsidiaries to AusGroup for $44M
(f) the receipt by AusGroup of in-principle approval of the SGX-ST for the listing and quotation of the Consideration Shares
If any of the conditions are not satisfied or waived by the date falling three (3) months from the date of the S&P Agreement, the S&P Agreement shall terminate and the provisions thereunder shall cease and be of no further effect (save for certain clauses) and no party shall have claim against the other for any costs, damages, losses or compensation, other than in respect of any antecedent breach of the S&P Agreement.
The Proposed Sale is expected to have a positive impact on the consolidated net tangible assets and earnings per share of the Company for the financial year ending Dec. 31.
3. Documents Available for Inspection
Copies of the S&P Agreement are available for inspection during normal business hours at the Company’s registered office at 15 Hoe Chiang Road #12-05, Tower Fifteen, Singapore 089316, for a period of three (3) months from the date of this announcement.
4. Caution in Trading
The Company will make further announcements relating to the Proposed Sale as and when necessary. The proposed acquisition by AusGroup of the Targets is subject to the approval of the shareholders of AusGroup, and there is no assurance that the aforementioned transactions will be completed. Shareholders are advised to refrain from taking any action which may be prejudicial to their interests before seeking advice from their stockbrokers, bank managers, solicitors, accountants or other professional advisers (as appropriate).
5. Interests of Directors and Substantial Shareholders
Save for Larry Johnson who has options in Ausgroup and is a non-executive non-independent director of AusGroup, none of the directors or controlling shareholders of the Company has any interests, direct or indirect, in the above-mentioned transactions, other than through their respective shareholding interests in the Company.
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