Chemicals and equipment manufacturer XRF Scientific (ASX:XRF) entered into a conditional share purchase agreement to acquire 100% of Labfit's shares for an upfront consideration of about AU$1.2 million, according to a Friday filing with the Australian bourse.
The consideration will be funded from the company's cash reserves, with 15% of the total to be paid in company shares, the filing said.
The sale is expected to be settled by Dec. 20, provided all conditions are met, according to the filing.
Price (AUD): $1.62, Change: $-0.003, Percent Change: -0.18%
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