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Provider: Reuters Investment Profile
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ExpressRx Ltd seeks ASX listing via merger with Cape Range Ltd

Thursday, 3 Jul 2014 03:17am EDT 

ExpressRx Ltd and Cape Range Ltd:Says plans for amalgamation which will result in Express's shareholders becoming the major shareholders of Cape Range.Parties confirm having entered into a binding heads of agreement that will see Express merge with Cape Range via an all-scrip transaction.Express is an Australian company whose technology comprises existing, installed technology in Australia, and developed technology that can be licensed as regulatory changes are progressively introduced in North America, Australia and Asian markets.Consideration to be paid by Cape Range to Express shareholders is to be, 150 mln fully paid ordinary shares at settlement.And up to 250 mln shares (contractual rights) to be issued upon attainment by the company of the two milestones for the financial years ending Dec. 31, 2015 and Dec. 31, 2016 respectively. 

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