Highlights
• Xped to proceed forward and acquire all of the issued capital in Jackson Care Technologies
and JCT Healthcare (JCT)
• Variation agreed to heads of agreement with favourable terms negotiated
• JCT founder Eddie Jackson appointed as CEO of JCT Group
• Xped to capitalise on IoT technology requirements in Eldercare Healthcare sector
• Accelerated growth model for JCT to be implemented in the 2016 July quarter
Xped Limited (ASX: XPE) (“Xped” or “the Company”) is pleased to announce that in accordance
with the Heads of Agreement (announced to the ASX on 19th April 2016) entered into between
Xped and the shareholder of JCT Healthcare Pty Ltd and Jackson Care Technologies Pty Ltd
(JCT), both Xped and the vendor have formally and satisfactorily completed their Due Diligence
in respect of the acquisition of all of the issued capital (Sale Shares) in JCT (JCT Acquisition or
Transaction).
The parties have agreed to vary certain terms of the Heads of Agreement as previously
announced and the amended key terms on which the Transaction will now proceed are defined
under the Transaction Overview below. The parties will proceed to negotiate a formal Sale and
Purchase Agreement (“SPA”) on the basis of the agreed amended terms.
Transaction Overview
Under the terms of the Heads of Agreement and subsequent variation deed, the Company has
reached agreement with the shareholder to acquire 100% of the issued capital of JCT.
In consideration for all of the Sale Shares, the Company will:
• Make payment of $750,000 cash at completion of the acquisition and
• Make payment of a further $750,000 cash subject to following conditions being met:
- new agreements being entered with channel partners and resellers which provide for
minimum aggregate purchase commitments of $1,000,000 (within 12 months) ;
- binding manufacturing supply agreement being entered into with key supplier for JCT
product line (within 12 months)
