Australian listed ICT provider, Inabox Group Limited
(ASX:IAB) announces that following the 18 December Annual General Meeting of Anittel Group Limited
(ASX:AYG) and today’s General Meeting of Inabox, it has successfully obtained shareholder approval from both entities for Inabox’s purchase of the Anittel business.
Transaction terms
The transaction includes payment on completion of $500,000 in cash and the issue of 6,153,846 new Inabox shares to Anittel shareholders. A further payment of up to $1.5 million in cash may be payable, subject to the performance of the Anittel business in the second half of FY2015.
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