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MBT - Mission Newenergy News Story

A$0.036 0.0  0.0%

Last Trade - 26/10/16

Sector
Energy
Size
Micro Cap
Market Cap £n/a
Enterprise Value £n/a
Revenue £90.0k
Position in Universe th / 1835

BRIEF-Mission Newenergy To Acquire Playup Ltd And Seek ASX And Nasdaq Listing-SEC Filing

Mon 9th April, 2018 12:07pm
April 9 (Reuters) - Mission Newenergy Ltd  MBT.AX :
    * TO ACQUIRE PLAYUP LIMITED AND SEEK ASX AND NASDAQ
EXCHANGES
LISTING - SEC FILING
    * AT PRESENT, ASX EXPRESSED CONCERN REGARDING PROPOSED
PLAYUP
LIMITED TRANSACTION, SUITABILITY OF THE COMPANY FOR LISTING ON
THE ASX
    * DEAL TO INVOLVE CO WHOLLY ACQUIRING PLAYUP WITH
CONSIDERATION
COMPRISING  ISSUE OF SHARES IN CO;  A REVERSE MERGER
    * PLAYUP RTO TO BE EFFECTED BY COMPLETION OF FUNDING ROUND
ANTICIPATED TO BE US$40 MILLION, COMPLIANCE WITH ASX, NASDAQ
LISTING RULES
    * BASED ON CAPITAL RAISING, POSSIBLE EITHER/BOTH DANIEL
SIMIC,
RICHARD SAPSFORD TO HOLD OVER 20% EQUITY INTEREST IN CONSOL
ENTITY
    * EXISTING SHAREHOLDERS OF CO SHALL RETAIN 5% OF MERGED
COMPANY ON
A FULLY DILUTED BASIS

Source text: (https://bit.ly/2qeYHBs)
Further company coverage:  MBT.AX 

 ((Reuters.Briefs@thomsonreuters.com;))
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