Clarification of Acquisition of eGlobal (Hong Kong) Ltd
Document date: Fri 09 Aug 2002 Published: Fri 09 Aug 2002 09:24:53 Document No: 147863 Document part: A Market Flag: Y Classification: Asset Acquisition EGLOBAL INTERNATIONAL LIMITED 2002-08-09 ASX-SIGNAL-G
HOMEX - Brisbane
+++++++++++++++++++++++++ As a clarification to the announcement made on Thursday, 8 August, 2002 in regard to the price to be paid for the proposed acquisition of eGlobal (Hong Kong) Ltd, the acquisition price to be paid as a script issue will be determined on the completion of an Independent Valuation Report and, in any event, will not exceed $4.4 million. The Independent Valuer will be appointed in the ensuing weeks to commence the task.
eGlobal International Limited will commence due diligence on eGlobal (Hong Kong) Ltd when a Term Sheet is signed by both parties to the proposed transaction.
The transaction will be subject to the satisfactory completion of the due diligence process by eGlobal International Limited, the valuation of eGlobal (Hong Kong) Ltd to be completed by the Independent Expert, and eGlobal International Limited shareholders' approval.
In addition, a detailed Information Memorandum will be prepared for issue to all Shareholders and an Extraordinary General Meeting will be convened to obtain Shareholder approval of the proposed transaction.
Further information in regard to this proposed transaction will be released to the market as and when it comes available.
Further Information: Alan Smith Company Secretary (07) 3369 6899
EGI Price at posting:
0.0¢ Sentiment: None Disclosure: Held