Nov 9 (Reuters) - IOT Group Ltd IOT.AX :
* Signed binding term sheet with major shareholder of Airselfie Holdings Limited
* Term sheet with major shareholder of Airselfie Holdings (Ash) with intention of enabling co to buy up to 100% of Ash
* Co to provide working capital to Airselfie Holdings, expected to be about US$7 mln during 2018