Market Update - Possible Transaction
Sydney, Oct 26, 2022 AEST (ABN Newswire) - The Board of A2A GN Ltd (
NSX:A2A) refers to the market updates dated 27 June 2022 and 12 July 2022, and advises that the Company has received an expression of interest from an investor (Potential Investor) in relation to a possible transaction which, on completion, will result in the Potential Investor acquiring a substantial stake in the Company and will allow the Company to seek a re-quotation of its securities on the National Stock Exchange of Australia (NSX) (Possible Transaction).
Discussions with the Potential Investor are carried out through Biztrack Consultants Private Limited (Biztrack Consultants), the Company's nominated adviser. The Potential Investor wishes to remain anonymous pending Biztrack Consultants completing its preliminary due diligence on the asset which the Company will acquire under the Possible Transaction. While the discussions with the Potential Investor are still in its preliminary stages, the Board is cautiously optimistic that a binding agreement relating to the Possible Transaction can be entered into. The basis of the Board's view is that the Potential Investor had paid non-refundable earnest monies to assist the Company to meet certain of its continuing listing obligations.
The Board wish to caution that notwithstanding discussions with the Potential Investor on the Possible Transaction are progressing well, there is no assurance that a definitive agreement in relation to the Possible Transaction will be entered into or, even if such a definitive agreement is entered into, the Possible Transaction will be completed.
About A2A GN Ltd
a2a Global Network Sdn Bhd is a Data Technology Consumers Platform incorporated on 16 December 2015 whereby consumers can leverage on, to earn Loyalty Points from their online and offline shopping, to build their database and generate uninterrupted passive income.
a2a simply stands for 'anyone to anyone', 'anywhere to anywhere' and 'anything to anything'.
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