"Under the SPAs, the existing shareholders have agreed to sell to Volt 70% of the total issued equity
in each ZG Group company for an aggregate purchase price of US$7.6 million payable in two
instalments of US$3.8 million. The first instalment is due on completion of the transaction, with the
second instalment due 6 months thereafter.
Completion of the transaction remains subject to satisfactory completion of Volt’s due diligence
enquiries by 14 May 2021 (or such later date as the parties may agree). To date the Company has not
identified anything from the due diligence enquiries that would prevent the transaction from
completing.
During this period, Volt intends to finalise its arrangements to fund the first instalment of US$3.8
million of the proposed US$7.6 million purchase price for the acquisition of the 70% interest in the
ZG Group, which may be equity, debt or a combination of the two."
So this is just an extension of the due diligence period?
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