Smartpay Receives Letter from Verifone to terminate the Asset Sale Agreement

  • May 03, 2020 NZST
  • Team Kalkine
Smartpay Receives Letter from Verifone to terminate the Asset Sale Agreement

 

As Smartpay Holdings Limited (NZX:SPY) is not been able to meet pre-conditions for the agreement to sell its New Zealand business and assets by the Condition Date, it has received a notice from Verifone to cease the Asset Sale Agreement.

 

  • The key decision which has not been satisfied by the Condition Date is New Zealand Commerce Commission clearance;
  • The company has also received from Verifone proposed revised terms to complete the deal.

The stock of SPY closed the day’s trading at $0.390 per share on 1st May 2020, down by 23.53% from its previous closing price.

 


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