Ann: GENERAL: CBL: CBL exercises option to acquire shares from shareholder

• Release Date: 14/01/16 09:17
• Summary: GENERAL: CBL: CBL exercises option to acquire shares from shareholder
• Price Sensitive: No
• Download Document  1.13KB

					CBL
14/01/2016 09:17
GENERAL
NOT PRICE SENSITIVE
REL: 0917 HRS CBL Corporation Limited

GENERAL: CBL: CBL exercises option to acquire shares from shareholder

CBL announced today that it had exercised and settled an option to acquire
2,160,000 CBL shares for AUD $1.17 from Mr Volker Weisbrodt, a selling
shareholder of Assetinsure Pty Ltd, which is now a 100% subsidiary of the CBL
Corporation Group.

In buying Assetinsure for a mixture for cash and shares, CBL agreed, after
settlement, to retain the ability to acquire back the CBL shares from Mr
Volker at a discount for cash, if exercised within 12 months.

The shares will be held on account of a future placement, and will not dilute
or affect any current shareholdings, or shares on issue.

Carden Mulholland CFO of CBL Corporation said that there were no plans to
place them with any party at this stage, but the chance to acquire the shares
at the advantageous price and in AUD was too attractive an opportunity to
pass up. There are no other options or ability to buy shares back from
selling shareholders of Assetinsure.
End CA:00276360 For:CBL    Type:GENERAL    Time:2016-01-14 09:17:44