TRS
06/11/2015 10:16
GENERAL
PRICE SENSITIVE
REL: 1016 HRS TRS Investments Limited
GENERAL: TRS: Settlement with Mega
6 November 2015
NZX Market Announcement
TRS Investments Limited ("TRS") has today signed a settlement agreement with
Mega Limited ("Mega") confirming that all obligations arising under previous
agreements between the companies are now at an end and settled in full. No
payments are required to be made, or shares are required to be issued, by
either party to the other.
The directors of TRS believe this is a simple and pragmatic step forward for
both parties. The directors of TRS wish every success for Mega as it pursues
its business ambitions and potential future listing arrangements.
Background
TRS advised in May 2015 that the proposed acquisition of Mega by TRS would
not proceed. TRS also advised in May 2015 that as part of the termination
process it may be required to issue new shares in TRS to Mega in
consideration for payments made by Mega totalling NZ$206,947. This settlement
therefore reduces liabilities of TRS by NZ$206,947.
For any inquiries please contact:
Keith Jackson:
Email: [email protected]
Mobile: 021 702 509
End CA:00272962 For:TRS Type:GENERAL Time:2015-11-06 10:16:45
