Radiance: RTO to proceed. Co had prev signed a MOU and now conditional sale agreement of Global Invacom for US$49m to co has been executed (in effect an RTO). Co will also consolidate 4 shares into 1 consolidated share...
Cash of US$18.5m and US$30.5m will be payable by issuing 122.5m consolidated shares at $0.3087 each. Global Invacom's sh/h will own 84.7% of co's issued capital after the transaction is executed. Global Invacom is one of the largest suppliers of satellite and television peripherals in the world.
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