Business
Proposed Acquisition of Vestigo & Temporary...
Proposed Acquisition of Vestigo & Temporary....
About this update from Vaultz Capital Plc
[{"type":"text","content":"\n \n \n Helium Ventures plc\n \n(“Helium Ventures” or the “Company”)\n \n Proposed Acquisition of Vestigo Technologies Ltd\n \n &\n \n Temporary Suspension\n \n Helium Ventures plc (AQSE:HEV), a special purpose acquisition vehicle announces that it has conditionally agreed to acquire Vestigo Technologies Ltd (“Trackimo”) which owns and distributes its advanced tracking software product, Trackimo™ and associated hardware business and intellectual property, to be satisfied by the issue of ordinary shares in the Company (the “Proposed Acquisition”). The existing ordinary shares of the Company will be valued at £1.684 million (10p per share) as part of the transaction. The Proposed Acquisition will require approval by shareholders of Helium Ventures at a general meeting and it is the intention of the Company to seek admission of the enlarged entity on the Standard Segment of the London Stock Exchange concurrently raising new equity capital (together, the “Transaction”). \n As a consequence, trading in the ordinary shares of Helium Ventures on the AQSE Growth Market will be suspended with effect from 8.00am on 7 October 2022, until publication of a prospectus in relation to the Proposed Acquisition.\n Highlights:\n \n Helium Ventures will conditionally acquire 100% of the issued capital of Vestigo through the issue of Helium Ventures shares at 10p per share\n Vestigo 2021 unaudited revenues of $US28.3 million\n Vestigo (both directly and through its wholly owned subsidiary, Trackimo Inc) has product manufacturing, distribution and development partnerships with Vodafone, Paramount (formerly Viacom) and the Nickelodeon Channel (owned by Paramount)\n Intention to list enlarged company on the Standard Segment of the London Stock Exchange\n The Transaction is subject to successful completion of due diligence on Trackimo and Sale and Purchase Agreement (“SPA”)\n \n Trackimo™, a USA company wholly owned by Vestigo Technologies Ltd, is an IoT (Internet of Things) solution provider with proprietary technology, enabling worldwide connectivity for M2M (Machine to Machine) devices. Trackimo is seeking to transform its business model through the development of customisable radio frequency mobile technology solutions that are easy to implement and are user friendly, used globally with enhanced security and reliability. Trackimo has...