TSX Approved EUROCONTROL TECHNICS GROUP INC. ("EUO") BULLETIN TYPE: Property-Asset or Share Disposition Agreement
BULLETIN DATE: December 21, 2015|
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing documentation relating to a Purchase Agreement (the "Agreement") dated November 6, 2015 between an arm's length party (the "Purchaser") and Eurocontrol Technics Group Inc. (the "Company"). Pursuant to the Agreement, the Company shall dispose of the issued and outstanding shares of its wholly-owned subsidiary, Global Fluids International S.A. ("GFI"). Further, pursuant to the Agreement, Xenemetrix Ltd., another wholly-owned subsidiary of the Company shall continue to supply GFI its products and services on an exclusive basis within the oil and gas marketing and monitoring fields of GFI's current operations.
In consideration the Company shall receive $16,000,000 (less $250,000 deposit already received, $286,000 transaction payments and working capital adjustments subject to positive working capital of $1,000,000 on closing). In addition, the Company shall also receive certain earn-out payments based on net revenue for six years from closing and settlement of loan amounts owing by the Company to GFI.
For more information please refer to the Company's news release dated November 6, 2015.
link
https://news.sys-con.com/node/3609028
Lets get some major deals done Eurocontrol + Sicpa !
GLTA!