XPED Ltd Stock Market Press Releases and Company Profile
Exercises Right to Acquire Xped
Exercises Right to Acquire Xped

Sydney, Dec 1, 2015 AEST (ABN Newswire) - Raya Group Limited (googlechartASX:RYG) is delighted to advise that in accordance with the Heads of Agreement (announced to the ASX on 26th October 2015) entered into between Raya and Xped Holdings Limited (Xped), that Raya and the Xped Vendors have formally and satisfactorily completed their Due Diligence, and Raya will now proceed forward in acquiring 100% of the shares in Xped.

Raya provides the following updated anticipated timetable:
----------------------------------------------------------Event                                           Date----------------------------------------------------------Dispatch Notice of Meeting                28 December 2015Lodgment of Prospectus with ASIC          28 December 2015Shareholder Meeting to approvethe transaction (and associated matters)  27 January 2016Expected Closing Date of Capital Raising  10 February 2016Completion of Acquisition                 16 February 2016RYG Shares recommence trading on the ASX  23 February 2016----------------------------------------------------------These dates are estimates and may be subject to change.

Athan Lekkas Executive Chairman of Raya Group commented; "The Board of Raya are very excited to finalise an acquisition of Xped's calibre. The level of interest demonstrated from the wider investment community has been overwhelming, and the confidence shown from our strategic investors and institutions further highlights the valuable asset we are acquiring. With a highly unique and lucrative patent portfolio, large scale early deployment opportunities and an experienced management team, we believe we have secured a valuable future for the Company and our shareholders".

About XPED Ltd

Raya Group ASX:RYG

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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Contact

Xped Inquiries:
John Stefanac
CEO - Xped Holdings Limited
T: +61 3 9642 0655
E: jmstefanac@xped.com
www.xped.com

Raya Group Inquiries:
Company Secretary
T: +61 3 9642 0655
E: info@rayagroup.com.au

Company Advisor:
Faldi Ismail
Otsana Capital
M: +61 423 206 324
E: Xped@otsana.com

Media Inquiries:
Asher Moses
Media & Capital Partners
M: +61 438 008 616
E: asher.moses@mcpartners.com.au



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