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News and Announcements

Crowd Mobile Signs Share Purchase Agreement for Track Concepts Acquisition

  • Published September 18, 2015 4:22PM UTC
  • Publisher Wholesale Investor
  • Categories Company Updates

17th September 2015, ASX Announcement

Crowd Mobile (ASX: CM8 & FWB-XETRA : CM3) is pleased to announce that it has signed a binding Share Purchase Agreement (SPA) with the vendors of Netherlands-based Track Holdings (Track Concepts).

The key terms of the SPA are as follows:

  • Total Initial Consideration of €22.4m (AUD$35.5m) which is represented by
    – €18.7m (AUD$35.5m) Initial Consideration being €17.0m cash and €1.7m shares (as 15.3 million ordinary shares in CM8 with an issue price of AUD16.3 cents escrowed for 12 months
    – €3.7m (AUD$5.8m) Initial Consideration for Net Tangible Assets (NTA);
  • Vendors services retained under contract until May 2016

To read the full announcement, please click here

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