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M2 Group Ltd updates on confirmation of its interest in Aggregato Global Ltd

Thursday, 1 May 2014 10:43pm EDT 

M2 Group Ltd:Confirms its interest in Aggregato Global Ltd (Aggregato) will be 32.8 pct, following the conversion of the Aggregato debt into equity, and Aggregato’s issue of the second tranche of shares on May 30.On March 24, Aggregato and M2 consented to the conversion of the A$5.5 mln loan to Aggregato into additional equity to allow Aggregato to enter into an agreement to acquire the assets of publicly-listed telecommunications provider Tel.Pacific Limited.Aggregato acquisition of Tel.Pacific was approved by Tel.Pacific shareholders at an extraordinary general meeting on April 28, and shares were subsequently issued to M2 on April 30.Aggregato has completed its capital raising to assist with its acquisition, with a second tranche of shares to be issued to a new shareholder on May 30. 

Company Quote

0.1 +0.91%
5 May 2015