VECTION TECHNOLOGIES LTD — M&A Activity 2019

Apr 11, 2019

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ASX RELEASE

ServTech Completes Acquisition of Vection

12 April 2019 | Perth, Australia

ServTech Global Holdings Limited ( ServTech or the Company ) ( ASX:SVT ) is pleased to advise that it has completed the acquisition (Acquisition) of the business of leading Software Development/Virtual Reality Company – Officine 8K SRL (to be renamed ‘ Vection ’).

Further information in relation to Vection was provided in the Company’s Investor Presentation (ASX: 13 March 2019).

As approved by the Company’s shareholders on 11 April 2019 and in accordance with the terms of the Acquisition, the Company has now issued 292,556,186 fully paid ordinary shares in the capital of the Company and 150,000,000 performance rights.

Placement

The Company is also pleased to advise that it has successfully completed the placement of 111,111,111 new shares which was run concurrently with the Acquisition, at an issue price of $0.018 per Share to raise $2 million (before costs). The placement was also approved by the Company’s shareholders on 11 April 2019.

Board Appointments

Following completion of the Acquisition, the Company is also pleased to announce the appointment of Mr Gianmarco Biagi as Managing Director and Mr Lorenzo Biagi as Executive Director and Chief Sales Officer. A brief biography for each of the incoming Directors is provided as follows:

Mr Gianmarco Biagi

Mr Gianmarco Biagi is an experienced executive, having served as CEO and board member of several Italian and multinational manufacturing corporations. He previously held the position of general manager of Luxury Living Group (a company with annual revenues of ~€140M).

Mr Lorenzo Biagi

Mr Lorenzo Biagi is an experienced company manager in the private sector, with extensive knowledge in virtual reality technology, sales and cost control management.

	–	ENDS–
For more information:		For media enquiries:
Bert Mondello		MMR Corporate Services
Non-Executive Chairman
+61 8 6380 2555		+61 2 9251 7177
bmondello@regencycorporate.com.au		media@mmrcorporate.com.au

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