This is what I have gathered from this announcement.Agreement to...

This is what I have gathered from this announcement.

Agreement to buy 51% of Philippines freight company SEAIR, subject to lots of approvals from two countries.

Cash component is A$2.2m, which must be used only as working capital of SEAIR. Non-cash part of the consideration is giving usage of the aircraft recently leased by WWG.

SEAIR board will consist of two of their founders and three members from WWG.

The two founders (vendors) can sell the remaining 49% of SEAIR to WWG (Put option) for US$3.5m after 3years, or exchange for WWG shares (Call option) @ US$0.50 per WWG shares (12x last close).

So according to this transaction SEAIR is being valued at A$9m.

It is located near Clark International airport in Philippines, looks very central aeronautically, within WWG's operations in US, China, Aus and Singapore.