Integrated Payment Technologies To Merge With Comply Path

Nov 17 (Reuters) - Integrated Payment Technologies Ltd (IP1) :

  • INPAYTECH TO MERGE WITH COMPLY PATH
  • TRANSACTION IS UNANIMOUSLY RECOMMENDED BY BOARD OF IP1
  • ENTERED MERGER AGREEMENT WITH SHAREHOLDERS OF COMPLY PATH WHEREBY IP1 WILL BUY 100% ISSUED CAPITAL OF COMPLY PATH
  • BASED ON SHARE PRICE OF IP1 ON NOV 17, THIS NOTIONALLY VALUES COMPLY PATH AT ABOUT A$19.5 MILLION
  • ON COMPLETION, COMPLY PATH SHAREHOLDERS WILL OWN 50% OF MERGED GROUP AND IP1 SHAREHOLDERS WILL OWN REMAINING 50%


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