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FATFISH GROUP LIMITED — M&A Activity 2021
Sep 9, 2021
64911_rns_2021-09-09_33b931fe-9487-4691-b73a-7dd82b24b1f0.pdf
M&A Activity
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Fatfish Group Limited (ACN 004 080 460) Level 4, 91 William Street Melbourne VIC 3000 Australia
10 September 2021
ASX Announcement
Mutual Termination of Acquisition Agreement – BNPL Next, Earned Wage Access Provider
Reference is made to Fatfish Group Ltd’s (“ FFG ” or the “ Company ”) announcement dated 11 June 2021 in which FFG announced that it has entered into an agreement to acquire 100% of Australia incorporated BNPL Next Limited, a company that owns 60% of Circo Pte Ltd (“ Circopay ”), an Earned Wage Access (EWA) solutions provider in Southeast Asia (“ Acquisition Agreement ”).
Following a detailed review of the business model of Circopay vis-à-vis the strategic direction of FFG, FFG wishes to announce that both FFG and the vendors of BNPL Next Limited have mutually agreed to terminate the Acquisition Agreement, effective immediately.
As a result of this termination, FFG will not proceed with the issue of consideration shares to the vendors of BNPL Next Limited.
This announcement has been authorised by the Board of Directors of FFG.
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About Fatfish Group Limited
Fatfish Group Limited ( ASX: FFG ) is a publicly traded tech venture firm with businesses in Southeast Asia and internationally. FFG has been building ventures across gaming, esports and fintech.
FFG owns a majority stake in Abelco Investment Group AB (NGM: ABIG), which is traded on the Swedish exchange, Nordic Growth Market.
FFG and Abelco operate from innovation hubs located in Singapore, Kuala Lumpur and Stockholm. For more details, email [email protected] or visit www.fatfish.co.