Research and Development Rebate and Company Update
Melbourne, Dec 1, 2015 AEST (ABN Newswire) - Raya Group Ltd (
ASX:RYG) ("Raya" or "the Company") wishes to advise it has finalised its Research and Development (R&D) Tax rebate for the year ended 30 June 2015.
The company is in the process of lodging the rebate and expects to receive $64,500.
ESCROWED PLACMENT OF SHARES
The Company wishes to confirm the recent share placement of 30,000,000 shares on the 10 November and 40,000,001 shares on the 20 November 2015.
ASX has advised the Company these shares are now in a holding lock subject to ASX's escrow treatment until after completion of the Xped transaction and re-compliance with Chapters 1 and 2 of the ASX Listing Rules.
As per the "Appendix 3B" announced to the market on November 25, the recent placement shares are presently not quoted.
XPED ACQUISITION DUE DILIGENCE
Raya would like to confirm that the company is close to finalising its due diligence investigations in respect of the acquisition of Xped Holdings Ltd.
Raya anticipates that an announcement in relation to the completion of Due Diligence will be released prior to the market open on Tuesday 1 December 2015.
About XPED Ltd
XPED Ltd (ASX:XPE) is an Australian Internet of Things (“IoT”) technology business. Xped has developed revolutionary and patent-protected technology that allows any consumer, regardless of their technical capability, to connect, monitor and control devices and appliances found in our everyday environment. Xped provides technology solutions for Smart Home, Smart Building, and Healthcare.
At Xped, we’re Making Technology Easy Again(TM)
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