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IMEXHS LIMITED — Capital/Financing Update 2017
Feb 12, 2017
65120_rns_2017-02-12_a45ae1d3-9a18-4d71-ae7b-b8ff930ae53a.pdf
Capital/Financing Update
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ASX: OMT 13 February 2017
TERMINATION OF PROPOSED ACQUISITION OF THE RIGHTCROWD BUSINESS
Omni Market Tide Limited ( OMT ) today announces the mutual termination of the proposed acquisition of the RightCrowd business ( Business ) (via the purchase of 100% of the shares in Sentrii Pty Ltd) first announced to the market on 19 October 2016 ( Transaction ).
On 10 February 2017, the ASX confirmed that it will not grant their approval to the structure of the Transaction on the basis that the Business is a Classified Asset (as defined in the ASX Listing Rules), and consequently the proposed cash consideration cannot be paid for the Business at completion of the Transaction. The Transaction could therefore not proceed.
OMT would like to thank all of the relevant parties in their efforts to complete the Transaction, and will provide a further update to the market, pending further advice.
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For more information, please contact:
Glenn Vassallo, Chairman +61 7 3309 7000
About Omni Market Tide
OMT are leaders in digital stakeholder engagement.
OMT produces applications for digital stakeholder engagement. We develop products for enterprise organisations that require professional level, deep engagement applications to help solve complex business problems, and meet regulatory, governance or compliance requirements in their business.
OMT works with both cyber security and physical access providers to extend security and access applications out to mobile devices. Identity and security management are key to our applications.
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