Brief: Lateral corporation ltd signed conditional term sheet with Golden Tower NZ Limited
29/12/2016 19:30
Dec 30 (Reuters) - Lateral Corporation Ltd LAT.NZ
* Signed a conditional term sheet with golden tower nz
limited
* GTNZ will acquire a 90% shareholding in LAT by subscribing
for 463.4 million new shares for consideration of approximately
NZ$3.2 million
* As part of transaction all of existing assets and debts in
lat will be transferred to lateral profiles
* Cash that lateral business will receive as a result of
transaction is expected to provide enough capital for lateral to
continue business growth
Source text for Eikon: urn:newsml:reuters.com:*:nNZW3cWzV5
Further company coverage: LAT.NZ
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