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ECS BOTANICS HOLDINGS LTD — M&A Activity 2010
Apr 19, 2010
64818_rns_2010-04-19_01daade7-53a8-4fdd-815d-1373672370bf.pdf
M&A Activity
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71 Thistlethwaite St South Melbourne 3205 VIC Australia Tel: 03 9 698 7800 Fax: 03 9 698 7878 www.hostech.com.au
20 April 2010
ASX Announcement Hostech Acquires Anittel
The Board of Directors of Hostech Limited (“Hostech”) is pleased to announce that Hostech has completed the acquisition of Anittel Limited (“Anittel”).
Hostech acquired Anittel for the total consideration of $2,478,837 satisfied by the issue of 87,500,000 Hostech ordinary shares at an issue price of 2 cents per share and $728,873 in cash. Flaxton Hunter contributed to the transaction with the transfer of 50,000,000 Hostech options and 100,000,000 Hostech shares to the vendors of Anittel at no cost to Hostech.
Hostech will also soon complete the acquisitions of Accord Technologies (WA) Pty Ltd, Axxis Technology Pty Ltd and the assets of Aspirence Pty Ltd. Final information in relation to the completion of these acquisitions will be released in due course.
Justyn Stedwell Company Secretary On behalf of the Board of Directors Hostech Limited