Kollakorn Corporation Limited (ASX:KKL) signed a memorandum of understanding to acquire Isity Global for AUD 10 million in stock on November 28, 2016. On July 24, 2017, Kollakorn Corporation Limited has signed the Purchase Agreement to acquire Isity Global Pte Limited. As per terms, Kollakorn issue 31.25 million shares valued at AUD 2.5 million, post share consolidation. Further, Kollakorn will issue the remaining balance of AUD 7.5 million, which will be held in escrow and released after reaching 3 and 5 year performance targets, related to specific revenue and profitability. Also, Kollakorn will do a 10:1 share consolidation prior to completion of the acquisition and will complete a capital raising of AUD 1.5 million. On December 22, 2016, Kollakorn Corporation will issue the balance consideration in the form of performance option. Kollakorn Corporation will issue 75 million performance options at nil exercise prices. The transaction is subject to capital raising by KKL and shareholder approval in the Extraordinary General Meeting. In relation to the acquisition, Kollakorn will complete an independent expert’s review for the shareholders and ASX. The Directors of Kollakorn Corporation will hold an Extraordinary General Meeting in February 2017 for the transaction. As of March 29, 2017, Kollakorn Corporation Limited received ASX approval for issue of 75 million shares to vendors for the the transaction. On July 24, 2017, the deal was unanimous approved by Isity shareholders and all the share issues and the consolidation of the shares approved at the General Meeting held on June 30, 2017, have been completed apart from the Share Placement, news of which is expected shortly. Following approval from shareholders at the Annual General Meeting held on 30 June 2017, the company issued 74,999,999 performance shares on 24 July 2017 to the vendors of Isity Global Pte Ltd Kollakorn Corporation Limited (ASX:KKL) completed the acquisition of Isity Global Pte Limited on July 19, 2017. Following the approval from shareholders at the Annual General Meeting held on 30 June 2017, the company issued 74,999,999 performance shares on 24 July 2017 to the sellers of Isity Global Pte Ltd as consideration.