Update on Heads of Agreement

RNS Number : 6475R

Path Investments plc

01 March 2019

 

1 March 2019

Path Investments plc

("Path" or "the Company")

Update on Heads of Agreement

Path Investments plc (TIDM: PATH) is pleased to provide an update regarding the Heads of Agreement with ARC Marlborough Pty Limited ("ARC") in relation to the proposed acquisition of ARC by the Company (the "Proposed Transaction") announced on 18 January 2019.

Within the Heads of Agreement a period of exclusivity was granted by Path to ARC to enter into a definitive Purchase Agreement on or before 28 February 2019.  This period of Exclusivity has now expired.  However, progress has been made towards the signing of a binding Purchase Agreement between the parties.  It is hoped to have the Purchase Agreement finalised in the coming weeks and accordingly the exclusivity period has been extended by mutual consent by one month to 29th March 2019.

This announcement is inside information for the purposes of Article 7 of Regulation 596/2014.

***ENDS***

For further information:

Path Investments plc

Christopher Theis, Andy Yeo

[phone]

Shard Capital (Financial Adviser and Broker)

Simon Leathers, Damon Heath

[phone]

IFC Advisory (Financial PR & IR)

Tim Metcalfe, Heather Armstrong, Miles Nolan

[phone]

 

END

 

 

AGREASDFEENNEFF