CR8 all but confirming a deal is done, watch for the scramble tomorrow. Sounds exciting
After market announcement 2nd May
As per the Company's notice of meeting dated 23 November 2015 and prospectus dated 8 December 2015 (Prospectus), the acquisition of the Agenda Platform was the first acquisition by the Company in line with the Company's new focus, being technology and software development. Consistent with the Prospectus, the Company is seeking to expand its asset portfolio in technology solutions, with a particular focus on software marketing solutions, application software, communication software, software as a service, online social networking services, and security and encryption.
The Company confirms it is in advanced negotiations and an exclusive due diligence period with respect to the potential acquisition of an entity that has developed a unique software as a service platform, consistent with the Company's new focus. Consistent with the Prospectus, the potential acquisition, should it occur, is expected to be made by an equity issue and may include an associated capital raising to continue to fund the development of the platform, both of which will require shareholder approval, as the combined size of the equity issue will potentially more than double the Company's existing share capital. The Company cautions investors that the Company is not a party to a legally binding acquisition agreement, and that any agreement is subject to the satisfactory completion of due diligence investigations of both parties and the execution of a formal acquisition agreement. There is no certainty that any agreement will be reached. In accordance with its continuous disclosure obligations, the Company will keep shareholders and the market informed if any binding acquisition agreement is reached. The Company confirms it continues to develop the Agenda Platform in accordance with previous disclosure.
