MCore Services Pty Ltd. completed the acquisition of Core Services Group Limited from Core Equities Pty Ltd, Cortina Holdings Limited, Transcontinental Asset Management Pty Ltd., Group Seventy Three Pty. Ltd. Jasforce Pty Ltd., Spinite Pty Ltd., Steldan Investments Pty Ltd, Z Corp Property Group Ltd, Chaleyer Holdings Pty Ltd, B2B Engineering Pty Ltd and other shareholders in a reverse merger transaction.
The completion of transaction is subject to all regulatory and CSG shareholder approvals, Australian Stock Exchange approval, waiver from ASX to allow core to issue contingent shares, CSG's re-compliance with the requirements of Chapters 1 and 2 of the listing rules to reflect the proposed change in the nature and scale of CSG's future activities, CSG successfully completing a capital raising of a minimum of AUD 1.25 million and up to AUD 2.5 million at a minimum issue price of AUD 0.20 per CSG Share and CSG procuring an independent expert report confirming that acquisition is fair and reasonable to the non-associated shareholders in CSG. The related directors of CSG being Stephen Zurhaar, Steve Dropulich and Vincent Goss decline to make a recommendation to shareholders. Ranko Matic, the remaining Director, recommends that shareholders vote in favour of transaction.
The transaction has been recommended by the Board to the shareholders to vote in favour of the transaction. The transaction was approved by shareholders of CSG on October 3, 2013. The consolidation of shares is expected to complete on October 18, 2013 and transaction is expected to complete on October 21, 2013. Moore Stephens Perth Corporate Services Pty Ltd considers the transaction to be fair and reasonable to the non-associated shareholders of CSG. Moore Stephens Perth Corporate Services Pty Ltd acted as independent expert for CSG and will receive a fee of AUD 25,000.
MCore Services Pty Ltd. completed the acquisition of Core Services Group Limited (ASX:CRV) from Core Equities Pty Ltd, Cortina Holdings Limited, Transcontinental Asset Management Pty Ltd., Group Seventy Three Pty. Ltd. Jasforce Pty Ltd., Spinite Pty Ltd., Steldan Investments Pty Ltd, Z Corp Property Group Ltd, Chaleyer Holdings Pty Ltd, B2B Engineering Pty Ltd and other shareholders in a reverse merger transaction on January 8, 2014.