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BRIEF-Ansys to buy Law Trusted Third Party for up to 108.5 mln rand
October 30, 2017 / 10:08 AM / 24 days ago

BRIEF-Ansys to buy Law Trusted Third Party for up to 108.5 mln rand

Oct 30 (Reuters) - ANSYS LTD:

* ‍ON 27 OCT, IT ENTERED INTO A LETTER OF INTENT WITH SHAREHOLDERS OF LAW TRUSTED THIRD PARTY SERVICES TO ACQUIRE SHAREHOLDER CLAIMS, IF ANY, OF LAWTRUST​

* ‍EFFECTIVE DATE OF TRANSACTION SHALL BE DATE ON WHICH ALL CONDITIONS PRECEDENT IN DEFINITIVE SALE AGREEMENT ARE MET OR WAIVED​

* ‍SHALL MAKE A MAXIMUM PAYMENT OF R108.5 MILLION FOR 100 PCT OF ISSUED SHARE CAPITAL AND SHAREHOLDER CLAIMS OF LAWTRUST USING CASH AND ANSYS SHARES​

* ‍CASH PORTION SHALL BE R88.4 MILLION AND SHARE PORTION SHALL BE R20.1 MILLION​

* ‍FOUNDERS WILL BE REQUIRED TO REMAIN IN EMPLOY OF LAWTRUST FOR A PERIOD OF THREE YEARS​ Source text for Eikon: Further company coverage:

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