SW1 swift networks group limited

News: SW1 Australia's Swift Networks To Buy Medical Media

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    Dec 21 (Reuters) - Swift Networks Group Ltd (SW1) :

    • SWIFT WILL PURCHASE ALL OUTSTANDING SHARES IN MEDICAL MEDIA FOR AN UPFRONT CONSIDERATION OF $4.5 MILLION
    • CARL CLUMP TO STEP DOWN AS NON-EXECUTIVE CHAIRMAN OF SWIFT, WITH XAVIER KRIS ASSUMING ROLE OF INTERIM EXECUTIVE CHAIRMAN
    • PURCHASE WITH AN ADDITIONAL $20.5 MILLION PAYABLE IN PERFORMANCE SHARES SUBJECT TO ACHIEVING ADVERTISING REVENUE TARGETS
    • SWIFT WILL REPLACE EXISTING FACILITY AND ENTER INTO A NEW $6 MILLION BANKING FACILITY WITH A TIER-ONE LENDER
    • PROJECTED TO UNLOCK COST SYNERGIES OF CIRCA CONDITIONS PRECEDENT $3 MILLION P.A
    • CONSIDERATION OF $4.5 MILLION, ENTIRELY THROUGH ISSUE OF 14.950 MILLION SWIFT SHARES AT $0.3010 PER SHARE, VIA SHARE PURCHASE AGREEMENT

    Source text: http://bit.ly/2SWvXt0

    (([email protected];))

 
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