Can you help me?Has UXC COMPLETED the sale of the field...

  1. 2 Posts.
    Can you help me?

    Has UXC COMPLETED the sale of the field solutions group?

    Let me just recap the paper trail leading to the question...

    1. 3/8/11 ASX Released Update said:

    "The transaction remains subject to certain conditions precedent typical of a deal of this nature, including customer contract novation and customer consent to change in control, as relevant. The parties remain committed to achieving completion, which is expected in mid to late August."

    2. 4/8/11 Business Spectator said that the deal is finalised...

    http://www.businessspectator.com.au/bs.nsf/Article/UXC-finalises-sale-of-Field-Solutions-for-61m-KE23E?OpenDocument

    3. 25/8/11 the company announces a delay to the release of the results in order to include details on the FSG sale in the annual report

    4. 31/8/11 Preliminary Final Report: Section 14 - Subsequent Events

    "UXC has executed an agreement for the sale of the UXC Field Solutions Group to Utility Services Group Limited (USG) with completion due shortly."

    All of this states that the agreements have been reached. NONE of them state that the company has banked the $61m.

    Have I missed something? Has the sale completed and has the buyer stumped up the cash? If not, what are the remaining risks, if any, of the sale not completing?

    Thanks for your help and sorry for what might be a dumb question.

 
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