Prime Active Capital PLC Update on Disposal (3756Q)
August 29 2014 - 7:48AM
UK Regulatory
TIDMPACC
RNS Number : 3756Q
Prime Active Capital PLC
29 August 2014
Update on Disposal
Prime Active Capital plc ("PAC") or "the Company")
Further to the disposal of the US assets ("the Disposal")
announced by PAC on the 1 August 2014 and the approval of the
Disposal by shareholders at the EGM of the 22 August 2014, PAC is
pleased to announce that it has received $2 million of the
Consideration due from ABC Phones. The Target Closing Date for
completion of the Disposal was scheduled for 29 August 2014, it is
now anticipated that the Disposal will complete on Wednesday 03
September 2014 at which point the remainder of the upfront
consideration will be paid. The funds received will be used to
discharge the Company's loan due to Mosaic.
For further information contact:
Nominated Adviser / ESM Adviser
Prime Active Capital plc Davy Corporate Finance
Dermot Martin, Executive Chairman Anthony Farrell / Eugenee Mulhern
+ 353 1 295 9895 + 353 1 679 6363
This information is provided by RNS
The company news service from the London Stock Exchange
END
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