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BRIEF-Aspermont announces the sale of Beacon Events
May 18, 2017 / 9:52 AM / 4 months ago

BRIEF-Aspermont announces the sale of Beacon Events

May 18 (Reuters) - Aspermont Ltd-

* Aspermont announces the sale of beacon events

* Confirm settlement from sale of its 60% stake in beacon events to gainwealth for an initial $4.3 million

* Aspermont has served statutory demands on beacon events to recover an additional circa $1.4m in outstanding debts

* Total consideration for beacon events disposal is therefore likely to exceed circa $11 million

* Co also continues to hold a $5m beacon loan note with beacon, which together with 60% equity, was consideration for original transaction

* Loan is fully recoverable in july 2020, inclusive of unpaid and accrued loan interest Source text for Eikon: Further company coverage:

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