The Company has issued 10,405,488 shares (“Consideration...

The Company has issued 10,405,488 shares (“Consideration Shares”) and paid €529,598 cash to the vendors of Spikenet (“Vendors”) pursuant to a share sale agreement dated 25 August 2016 (“Share Sale Agreement”) as consideration for the acquisition of 100% of the shares of Spikenet.

The Consideration Shares were issued without disclosure under Part 6D.2 of the Corporations Act to the Vendors and as such a prospectus to comply with section 708A(11) of the Corporations Act to remove any trading restrictions that may have attached to the Consideration Shares will be lodged by the Company shortly.

Pursuant to the Share Sale Agreement, some of the Vendors have agreed that their Consideration Shares (representing 7,570,607 Consideration Shares) will be voluntarily escrowed from the date of issue until the earlier of:
(a) 1 March 2017; or (b) the date on which both:

(i) the offeror under a takeover offer in respect of all of the Shares announces that it has achieved acceptances in respect of more than 50% of the Shares; and

(ii) the takeover bid has become unconditional