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MokoMobi Ltd Announces Sale Of UK Mobile Content Business

Tuesday, 30 Apr 2013 04:33am EDT 

MokoMobi Ltd announced that it has reached agreement with Peekaboo Investments Limited (Peekaboo) to sell theUK based mobile content business, Antiphony Management Holdings Limited and its subsidiaries, (AMH group) for an initial sale price of £1 with deferred consideration of up to a maximum of £2,125,000 payable in five separate payments subject to a post-sale performance earn-out. Under the sale agreement, Peekaboo will assume all assets and liabilities of the UK business which will result in a deconsolidation of those assets from the financial statements of MOKO as at the date of settlement, including all cash balances, trade debtors and creditors, and all other assets and liabilities of the UK business, subject to the payment of a historical taxation liability of approximately £108,000 by MOKO. 

Company Quote

0.0050 +3.13%
19 Dec 2014