m070213ASX announcement re completion of StratoSonde.DOC/RH13th...

m070213ASX announcement re completion of StratoSonde.DOC/RH
13th February 2007
The Manager
Company Announcements Platform
The Australian Stock Exchange
Completion of StratoSonde Divestment
Tele-IP Limited is pleased to announce that it has completed the sale of the StratoSonde assets.
The consideration received for the assets was $1,005,000. As previously announced to the ASX,
$200,000 of the sale price was paid prior to completion. The balance was paid on completion.
Further, Tele-IP Limited was reimbursed the costs incurred in maintaining the StratoSonde
intellectual property in the period from the original contract execution date of 30th September
2005 up to the date of completion.
Pursuant to the Assets Acquisition Agreement under which the StratoSonde assets were sold,
the purchaser has also agreed to pay Tele-IP Limited an ongoing royalty of 2% of gross sales of
products and services which incorporate the technology transferred. The royalty is payable on
sales in excess of $100,000 per annum.
Yours faithfully,
Ian May
Managing Director