Sale of Interact platform
Trufin completes sale of Interact platform to VCI Global for $300,000 cash and $1,700,000 VCIG shares.
- Consideration in cash $300,000
- Consideration in VCIG shares $1,700,000
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Further to the Company's announcement on 21 November 2023 regarding the possible sale of IP and assets relating to Playstack's augmented reality and gamification AdTech platform "Interact" to VCI Global Ltd ("VCIG") (the "Disposal"), the Company announces that the Disposal has been contracted with completion due to occur on 28 March 2024.
The consideration payable by VCIG in relation to the Disposal is $300,000 in cash and $1,700,000 payable in Nasdaq-listed VCIG shares, which are subject to a lock-up period.
The Disposal assets were held at zero value on the Company's balance sheet.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.