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BRIEF-Integrated Payment Technologies To Merge With Comply Path

Published 17/11/2020, 09:37 pm
Updated 17/11/2020, 09:42 pm
© Reuters.

Nov 17 (Reuters) - Integrated Payment Technologies Ltd IP1.AX :

* INPAYTECH TO MERGE WITH COMPLY PATH

* TRANSACTION IS UNANIMOUSLY RECOMMENDED BY BOARD OF IP1

* ENTERED MERGER AGREEMENT WITH SHAREHOLDERS OF COMPLY PATH WHEREBY IP1 WILL BUY 100% ISSUED CAPITAL OF COMPLY PATH

* BASED ON SHARE PRICE OF IP1 ON NOV 17, THIS NOTIONALLY VALUES COMPLY PATH AT ABOUT A$19.5 MILLION

* ON COMPLETION, COMPLY PATH SHAREHOLDERS WILL OWN 50% OF MERGED GROUP AND IP1 SHAREHOLDERS WILL OWN REMAINING 50%

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