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RENT.COM.AU LIMITED — Capital/Financing Update 2005
Nov 7, 2005
65722_rns_2005-11-07_7a9ff865-c7fd-4eb6-9f63-4f69226249f9.pdf
Capital/Financing Update
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Select Vaccines Limited
ABN 25 062 063 692
Suite 1, 261 Wattletree Rd, Malvern Victoria 3144 Australia
Telephone +613 0508 0201 Facsimile +613 9576 3055
www.selectvaccines.com.au
ASX ANNOUNCEMENT
SECURITIES RELEASED FROM ESCROW
8 November 2005
Select Vaccines Ltd (ASX:SLT) today announced that it had agreed to the early release from voluntary escrow of securities held by Farcam Pty Ltd ("Farcam").
The company has been advised today that Farcam had reached an agreement to sell its holdings of 5 million ordinary shares (SLT) and 5 million Options (SLTOA). Under the terms of the escrow agreement (dated 18 April 2005) the escrow may be lifted if Farcam receives a firm bid for all securities it holds that are subject to the voluntary escrow agreement.
Select Vaccine's Managing Director, Dr Martin Soust said the Directors were advised by Farcam that an arrangement had been reached for the payment and transfer of the securities. "Farcam has told us today that the agreement they had reached with the buyers was the culmination of discussions that were initiated last month and they intend to transfer the shares and options immediately following the securities' release from escrow" Dr Soust said.
For further information:
Dr Martin Soust Managing Director Tel. (03) 8508 8250 Mob. 0412 442 844