Milestone Group PLC Milestone Group Plc : Update Black Cactus Global Inc - Licence Agreement
February 28 2018 - 10:07AM
UK Regulatory
TIDMMSG
MILESTONE GROUP PLC
("Milestone" or the "Company")
Update Black Cactus Global Inc - Licence Agreement
Milestone (AIM:MSG), the AIM quoted provider of digital media and
technology, announces that further to the announcement made 6 December
2017 relating to a Software Licence Agreement between the Company and
Black Cactus Global Inc (Formerly Envoy Group Corp).
Following a review of the Company's requirements of the Licence
Agreement by both parties, they have agreed to cancel the original
Licence Agreement and enter into a revised agreement to provide the
Company with the products and services it requires as well as providing
access to Black Cactus's Consultancy services. This change is in
alignment with the Company's strategy of procuring technical services
and IP from multiple sources on a "best of breed" basis.
The Licence Agreement dated 4 December 2017 had a requirement for the
Company to issue Black Cactus Global Inc 744,131,477 shares which
equated to 29.5% of its enlarged share capital ("Share Consideration")
subject to shareholder approval. With the cancellation of the Licence
Agreement the obligation of the Share Consideration has been removed
from the Company.
The terms of a revised agreement are currently being negotiated but will
not require the issuance of any shares as part of the consideration for
entering into the agreement, a further announcement will be made in due
course.
For further information:
Milestone Group PLC Tel: 020 7929 7826
Tony Sanders
Cairn Financial Advisers LLP, Nominated Adviser Tel: 020 7213 0880
Liam Murray / Jo Turner
Hybridan LLP, Broker Tel: 020 3764 2341
Claire Louise Noyce
Walbrook PR Limited, PR Tel: 020 7933 8780
Gary Middleton / Paul Cornelius
This announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the information
contained therein.
Source: Milestone Group PLC via Globenewswire
http://www.milestonegroup.co.uk/
(END) Dow Jones Newswires
February 28, 2018 10:07 ET (15:07 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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