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BRIEF-Savcor enters binding term sheet with Wastewater Treatment Co

Published 20/07/2015, 02:13 pm
© Reuters. BRIEF-Savcor enters binding term sheet with Wastewater Treatment Co
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July 20 (Reuters) - Savcor Group Ltd SAV.AX :

* Sav enters binding term sheet with wastewater treatment co SAV.AX

* Leads sav applying for relisting with A$11 million fundraising to finance commercial rollout of emefcy with first sales and revenues planned for 2016

* Sav will acquire all of the issued capital of emefcy from the emefcy equity holders

* Deal for 65 million shares issued on completion at issue price of A$0.20 per share with right to receive up to 45 million deferred consideration shares

* Says funding provided for the commercial rollout of the existing sabre technology to target first sales

* Cash component and the redeemable note are to be received by a single US-based major shareholder of emefcy

* Source text (http://bit.ly/1DpEIgP)

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