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Ossia International Ltd Announces Proposed Acquisition Of Retail And Distribution Business Of VGO Corporation Limited


Monday, 8 Oct 2012 08:29am EDT 

Ossia International Ltd announced that on October 8, 2012 agreed to acquire the Retail and Distribution Business (described in paragraph 2.1 below) of VGO Corporation Limited (VGO), and for this purpose has entered into the following agreements with VGO: a conditional sale and purchase agreement (the SPA) dated October 8, 2012 in relation to the acquisition by the Company of the Undertaking (as defined in paragraph 2.2.1(A) below); and a conditional sale and purchase agreement (the Share Purchase Agreement) dated October 8, 2012 in relation to the acquisition by the Company of the entire issued and paidup share capital of VGO’s wholly-owned subsidiary in Malaysia, W.O.S. World of Sports (M) Sdn. Bhd. (WOS) (the Sale Shares), The Undertaking Consideration is an amount equivalent to the aggregate of (i) the net asset value of the Undertaking as at the Undertaking Completion Date (but not including the net asset value attributable to trade marks and trade names)(the Undertaking NAV); and (ii) the fair value of the trade names of World of Sports and “Bread & Butter (whether registered as trade marks or not) as at 30 June 2012, these being the principal trade names used in the Retail and Distribution Business. The Share Sale Completion Date shall be no later than 4 months after the Undertaking Completion Date, or such later date as may be agreed in writing between the Company and VGO. 

Company Quote

0.086
0.0060 +7.50%
11 Jul 2014