TeleChoice International Ltd. Updates On Acquisition Of NxGen Communications Pte Ltd

TeleChoice International Ltd. announced the completion of tranche one of the acquisition in accordance with the terms and conditions of the SPA. The Company owns 55.00% of the total number of issued NxGen Shares. In accordance with the terms and conditions of the SPA, as the adjustments to the Tranche one Consideration (if any) will only be determined at a later date post completion, the Tranche one Consideration (as adjusted) will only be paid by the Company to the Vendors after such adjustments have been determined. The Board will make a further announcement on the amount and payment of the adjusted Tranche one Consideration in due course.