Spookfish Limited (ASX: SFI) Receives $5 Million Royalty Payment From EagleView

October 03, 2018 07:35 AM AEST | By Team Kalkine Media
 Spookfish Limited (ASX: SFI) Receives $5 Million Royalty Payment From EagleView

Spookfish Limited announced the receipt of $5 million royalty payment from Eagle View Technologies on 28 September 2018. It is said to be in accordance with the Development, License and Royalty Agreement that Spookfish and EagleView have entered on 17 May 2016.

EagleView is a Washington based technology provider of aerial imagery, geographic information system and data analytics services. It is the largest shareholder of Spookfish Limited and is engaged into the joint development work with Spookfish since last two years with the view to optimize its image capture technology.

SFI told that the recent payment of $5 million forms part of EagleView’s obligation that was drawn on the amendment of License Agreement as announced on 26 July 2018. As per the new arrangement, the exercise option to extend the agreement for two consecutives 5-year terms rests at the sole discretion of EagleView provided it duly make the payments to Spookfish totaling an aggregate $15 million by 30 September 2018. During that time, EagleView also proposed to acquire the remaining shares of Spookfish at a cash price of $0.08 per share which was later increased to $0.09 per share as on 10 September 2018. [optin-monster-shortcode id="wxhmli4jjedneglg1trq"]

In July this year Spookfish Limited entered into a Scheme Implementation Agreement with Eagle View Technologies Inc. under which bidder will acquire all the issued securities of Spookfish for all cash consideration revised to approximately $1,327,500. The increased purchase consideration of $0.09 per share reflects a significant premium of 76.5% to SFI’s recent close. In the absence of better offer, Spookfish Directors have already given their unanimous recommendation that shareholders should vote in favor of the Scheme.

Subject to the regulatory approvals, if Spookfish’s shareholders gives a green card to the takeover bid, EagleView will clutch the complete rights in Spookfish with an access to its higher image capture technology.

In the market release dated 28 September 2018, Spookfish told that with the payment of $5million, EagleView has paid the aggregate of A$15 million pertaining to which the Development, License and Royalty Agreement could not be reverted to its previous form.

The stock of Spookfish Limited is trading at $0.087 as on 3rd October 2018 (4:37 PM AEST). Yesterday it had gone up by 1.163% closing at $0.087. The stock has seen a performance change of +2.35% over the past one year while it has surged by 77.55% in the last three months.

Dividend Stocks To Buy

The Income available from dividends remains attractive for many investors.

We take a look at the best yields on the market and assess what they say about a company’s prospect.

One Thing is certain, though, Australia interest rates are still low, making income difficult to come by and keeping the focus for many investors on high yielding stocks. Kalkine’s team of analysts bought you handpicked report for “Top 25 Dividend Stocks For 2018.”

ASX-relevant Special Reports are published year-round to provide a detailed analysis into an investing opportunity or a potential risk to your portfolio.

Click here to get your free report.


Disclaimer

The advice given by Kalkine Pty Ltd and provided on this website is general information only and it does not take into account your investment objectives, financial situation or needs. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people. Kalkinemedia.com and associated websites are published by Kalkine Pty Ltd ABN 34 154 808 312 (Australian Financial Services License Number 425376). website), employees and/or associates of Kalkine Pty Ltd do not hold positions in any of the stocks covered on the website. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations.


Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.


AU_advertise

Advertise your brand on Kalkine Media

Sponsored Articles


Investing Ideas

Previous Next
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.