AI assistant
SAFEROADS HOLDINGS LIMITED — Capital/Financing Update 2012
Nov 4, 2012
65853_rns_2012-11-04_f2595eaa-6f4d-4cc6-b5d3-7a4269bb8bb9.pdf
Capital/Financing Update
Open in viewerOpens in your device viewer
==> picture [208 x 44] intentionally omitted <==
5[th] November 2012
Company Announcements Office ASX Limited Exchange Centre Level 4, 20 Bridge Street SYDNEY NSW 2000
ASX ANNOUNCEMENT
SALE OF TRAFFIC SIGNALS PRODUCT PORTFOLIO
Saferoads Holdings Limited (ASX: SRH) (the “Company”) announces it has entered into a conditional agreement to sell its Traffic Signals product portfolio to Traffic Technologies Limited (ASX: TTI) for cash consideration of $950,000.
As outlined by the Chairman in the Company’s 2012 Annual Report, this transaction forms part of the Company’s strategy to:
-
Focus on core business activities;
-
Reduce debt and free up capital; and
-
Focus on opportunities and value enhancing initiatives.
Chief Executive Officer, Darren Hotchkin, said, “We are pleased to finalise this transaction as it allows us to focus on core product sales and rebuild a sustainable earnings base for the Company”.
It is expected that completion will take place in November 2012.
Should you require any further information please contact Mr. Darren Hotchkin.
Enquiries:
Mr. Darren Hotchkin Chief Executive Officer T (03) 5625 6600
SAFEROADS HOLDINGS LIMITED ABN 81 116 668 538
Saferoads specializes in providing road safety solutions.
Headquartered in Drouin, Victoria, and with offices across Australia and New Zealand, the company services State Government Departments, local councils and road construction companies with a broad range of products and services designed to direct, protect, inform and illuminate all road users.