News: FCG Frontier Capital updates on Mongolian national lottery acquisition

Feb 22 (Reuters) - Frontier Capital Group Ltd (FCG) :

• Status - mongolian national lottery acquisition
• Received notice from the vendor that a number of the conditions precedent will not be satisfied within the period provided for in the agreement
• Agreement provides that the conditions precedent cannot be waived and the company and the vendor have agreed that the agreement be terminated
• Company has advanced A$1.5 million toward the cash consideration
• The termination will be effective upon receipt of A$1.5 million from the vendor
• "Directors are reviewing the company's investment portfolio in order to align it to the direction of gaming and hospitality"