News: Red Gum Resources to divulge material transactions updates

Red Gum Resources (ASX:RGX) recently shifted its focus away from the resources sector into a travel business aggregation strategy.

Last month the company signed a Share Sale Agreement to acquire 100% of the issued capital of Keygate Holdings Pty Ltd, trading as Asia Escape Holidays.

The agreement followed the announcement with Holiday Planet on 9 July 2014 and Motive Travel on 4 August 2014.

RGX recently said that the Asia Escape Holidays acquisition, together with the acquisition of Holiday Planet and Motive Travel, once approved by shareholders and completion has occurred, will create the largest independent internet travel and leisure company based in Western Australia.

The ASX has granted the company a trading halt, with its shares placed in pre-open.

RGX requested the halt pending an announcement regarding material transactions updates.

The halt will remain in place until the opening of trade on Monday 22nd September 2014, or earlier if an announcement is made to the market.