Interesting
Vmoto agrees to acquire the business and certain assets of its United Kingdom (“UK”) distributor for total cash consideration of ~A$1 million.
• Acquisition to be funded from the Company’s existing cash reserves.
• Vmoto expects significant benefits to the Company from direct access to over 50 active B2C dealers in the UK and an established management team with significant experience in the UK electric two-wheel vehicle market.
• On completion of the acquisition, Vmoto will resume exclusive sales and marketing rights for the UK market.
Ann: Vmoto Acquires the Business and Assets of its UK Distributor, page-2
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