Aspen Group
(ASX:APZ) says it is continuing talks with Mill Hill Capital despite its Heads of Agreement terminating.
A proposal announced in February looks to see Aspen pay $31.5 million for some Tasmanian accommodation assets owned by one of its directors John Carter.
The group is also looking to buy back $34 million worth of shares and install Mr Carter and his Mill Hill Capital partner as joint chief executives.
The company says that discussions have proceeded but no agreement has been reached and discussions will continue despite the automatic termination.
Aspen Group reported a net profit of $5.99 million for the six months to the end of December 2015.
