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Tungsten Corp PLC announces extension of bank acquisition agreement with First International Bank of Israel Ltd


Monday, 16 Dec 2013 06:11am EST 

Tungsten Corp PLC:Says pursuant to the terms of the share purchase agreement to acquire FIBI Bank (UK) plc entered into between the Tungsten and First International Bank of Israel Ltd on Mar. 19, completion of the Share Purchase Agreement had to occur on or before Dec 18 unless the parties agreed otherwise in writing.Says that on Dec. 13 Tungsten and First International Bank entered into a deed of amendment pursuant to which the completion date has been extended to the later of.(i) Mar. 31, 2014.(ii) such other date after Mar. 31, 2014 but on or before Apr. 30, 2014 as may be notified by the FCA and / or PRA having indicated that approval will be granted to Tungsten to become a controller of FIBI Bank (UK) plc on or before Feb. 1, 2014.(iii) such other date after Apr. 30, 2014 as may be agreed by the parties in writing in their discretion.Discussions continue with the PRA to advance the change of control process whereby Tungsten can acquire the FIBI Bank (UK) plc. 

Company Quote

230.0
-12.75 -5.25%
29 Jan 2015