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BRIEF-Bridge Global Capital Management updates on acquisition and cancellation of shares

Published 30/11/2015, 04:47 pm
© Reuters. BRIEF-Bridge Global Capital Management updates on acquisition and cancellation of shares

Nov 29 (Reuters) - Bridge Global Capital Management Ltd BGC.AX :

* Says vendors of hanhong have agreed to cancel the 2.5 million shares issued to them for the acquisition of hanhong

* Will finalise due diligence on mejority in mid-January and anticipate settling transaction towards end of that month

* Says termination arrangements with m&a ventures limited also resulted in the return to bgc of hk$2.5 million

* Says sale will return approximately $700,000 to the company

* Says "decision to not conclude the hanhong transaction is seen as the right one for the company"

* Ongoing review of co's operations has resulted in a decision to sell its office in gold coast that it acquired in February of 2015

* Says company has signed an offer and acceptance on the property for $2.3M, to be settled in February 2016

* Source text for Eikon ID:nASXbnl3RG

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