Chemicals and equipment manufacturer XRF Scientific (ASX:XRF) entered into a conditional share purchase agreement to acquire 100% of Labfit's shares for an upfront consideration of about AU$1.2 million, according to a Friday filing with the Australian bourse.
The consideration will be funded from the company's cash reserves, with 15% of the total to be paid in company shares, the filing said.
The sale is expected to be settled by Dec. 20, provided all conditions are met, according to the filing.
Price (AUD): $1.62, Change: $-0.003, Percent Change: -0.18%
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments