Acquisition of Xped Holdings Completed
Acquisition of Xped Holdings Completed
Perth, Mar 24, 2016 AEST (ABN Newswire) - Raya Group Ltd (ASX:RYG) ("Raya" or "the Company") is pleased to advise that today it has completed the acquisition of Xped Holdings Limited (Xped) pursuant to the heads of agreement (as varied) announced to the market on 26 October 2015.

The Company has issued all of the Xped consideration securities on completion. The Company also wishes to advise that it has partially settled the public offer in the amount of $2,700,000, with the balance of the public offer to settle on 30 March 2016. Attached is an Appendix 3B in this regard.

The Company has received confirmation from ASIC regarding its change of name to Xped Limited, as approved by shareholders at the recent EGM.

The Company is now finalising all outstanding ASX conditions to complete the relisting of its shares on ASX.

The expected date for re-quotation of the Company's shares on the ASX (subject to RYG satisfaction of Chapters 1 and 2 of ASX Listing Rules) is 5 April 2016.

To view the securities subject to escrow, please visit:
http://abnnewswire.net/lnk/572I8RD6


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)

     


Contact

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



Related Companies

XPED Ltd    

ABN Newswire This Page Viewed:  (Last 7 Days: 19) (Last 30 Days: 147) (Since Published: 5920) 
ANALYTICS: LOGIN HERE

XPED Ltd NEWS: RECENT VISITS (7904)

Research Report

Social Media