May 18 (Reuters) - Aspermont Ltd (ASP) -
- Aspermont announces the sale of beacon events
- Confirm settlement from sale of its 60% stake in beacon events to gainwealth for an initial $4.3 million
- Aspermont has served statutory demands on beacon events to recover an additional circa $1.4m in outstanding debts
- Total consideration for beacon events disposal is therefore likely to exceed circa $11 million
- Co also continues to hold a $5m beacon loan note with beacon, which together with 60% equity, was consideration for original transaction
- Loan is fully recoverable in july 2020, inclusive of unpaid and accrued loan interest
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