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ARN MEDIA LIMITED — Capital/Financing Update 2021
Sep 5, 2021
64267_rns_2021-09-05_ef273a12-110c-4411-863b-ff5831804113.pdf
Capital/Financing Update
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MARKET ANNOUNCEMENT
Potential divestment of interest in Luxury Escapes
SYDNEY, 6 September 2021 – HT&E Limited [ASX: HT1] today announced that a conditional agreement has been signed for the potential sale of its shares in Lux Group Limited (“Luxury Escapes”).
Auctus Asset Management Pty Ltd (“AVC”) has agreed with various shareholders in Luxury Escapes, to purchase their shares and also invest primary capital in Luxury Escapes via a Convertible Note to support future growth.
The agreement is conditional on various matters, including AVC raising minimum funding of $60 million. There is 75 days for the funding to be raised (unless extended). The portion of shares to be purchased is also dependent on the number of shareholders who participate and the amount of funds raised by AVC.
Should the transaction with AVC proceed, HT&E could receive proceeds of up to $23.2 million, though under the terms of the agreement, only a portion of HT&E’s shares may be sold with a corresponding reduction in the proceeds received.
Further updates will be provided in due course whether the agreement becomes unconditional and the amount of sale proceeds.
Market releases from AVC regarding this agreement will be available on their investor relations page at: https://auctusinvest.com/shareholder-centre/
ENDS
For further information, please contact:
Peter Brookes, Citadel-MAGNUS, +61 407 911 389, [email protected]
Helen McCombie, Citadel-MAGNUS, +61 411 756 248, [email protected]
HTandE.com.au / 3 Byfield Street, Macquarie Park, NSW, 2113 / T : +61 2 8899 9900 / ABN: 95 008 637 648