1. 22 Feb 2017, anns of term sheet re purchase of RV Sport and the Friendship Games, owned by Mr Andrew Vlahov. 2. 3 Apr 2017, anns of suspension pending the finalisation of binding terms for an acquisition. The suspension is to last until the Company executes the agreement and releases an announcement, which is expected to be no later than Thursday, 13 April 2017. 3. 5 Apr 2017, anns of termination of the term sheet with RV Sport Pty Limited to acquire Friendship Games Pty Ltd. Various conditions precedent set out in the term sheet have not been satisfied by the due date of 1 April 2017.
So we wait in limbo Suspension for more news of the acquisition due out next Thursday - that's a heck of a long suspension.
Has the purchase of RV/Friendship Games from Mr Vlahov been shelved in lieu of a more compelling purchase tba?
But that still leaves a big question mark over the statement "Various conditions precedent set out in the term sheet have not been satisfied by the due date of 1 April 2017."
I'd be interested to get any other thoughts?
ICT Price at posting:
3.4¢ Sentiment: Hold Disclosure: Held
