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BRIEF-Secos to sell interest in Bioglobal

Published 06/10/2015, 12:01 pm
Updated 06/10/2015, 12:08 pm
© Reuters.  BRIEF-Secos to sell interest in Bioglobal
SES
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Oct 6 (Reuters) - Secos Group Ltd SES.AX :

* Strategic review of investment holdings

* Secos has entered into an agreement to sell its investment in Bioglobal for

consideration of $488,280

* Transaction due to complete on or about 9 October 2015

* Says the sale of the bioglobal investment will result in cash becoming

available to fund working capital for Secos' sales growth

* Sale of investment will result in a loss of $75,120 on carrying book value of

investment, and profit of $244,140 on investment's cost base

* Secos is currently in discussions with suitable silicone release industry

partners in relation to the sale of its interest in Akronn

* The carrying value of secos' investment in akronn as at 30 June 2015 was nil

* Source text for Eikon ID:nASX3S8CrX

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