The Board of Directors of Global Invacom Group Limited (the “Company”) announces that the Company has on 24 September 2014 entered into a conditional agreement to acquire the entire issued and paid-up share capital of OnePath Networks Ltd (the “Acquisition”). Completion of the Acquisition is subject to certain conditions precedent related primarily to the completion of the sale process by the vendors. Satisfaction of such conditions is expected to take place in approximately 45 days.
OnePath Networks Ltd is a company incorporated and registered in Israel with principal activities in telecoms solutions for the commercial, government and military markets.
The relative figures for the Acquisition computed on the bases set out in Rule 1006(a) to (d) of the SGX-ST Listing Manual do not exceed 5%. As such, the Acquisition is a non-disclosable transaction under Rule 1008 of the SGX-ST Listing Manual.
Further details on the Acquisition in accordance with Rule 1008(2) of the SGX-ST Listing Manual will be made available on completion of the Acquisition.