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I understand the major supplier of building materials in Australia bought it. The royalties par panel will not be huge, but when the building market recovers over there it will give Leed some income without costs and the hassle of running a quarry/business and making and delivering the panels. The most important factor to me is the new investment is potentially global rather than a quarry stuck just outside Perth with a few years life span and a very flat building market. As with most investments, time will tell. I do feel the BoD are trying to generate a return for share holders.
Thanks for the update. Am I missing something? but who has the business been sold to? what % of the loyalties? Leaves a lot of questions unanswered
I agree this is definitely a positive step in the right direction now.
Civex Group Holdings Pty Ltd sold for n A$500,000 and an initial investment of A$50,000 in an innovative construction technology company based in Perth, Western Australia called NXT TEC. Ltd (www.nxttecltd.com). The new investment is very exciting for Leed and unlike the investment in Civex Group Holdings, does not have a concentrated exposure to the Western Australian residential market but is a business with global potential. Leed will receive Royalties from sale of panels. Good news in my opinion as global potential rather than restricted to quarry in Western Aus. At least The BoD are trying to achieve something for shareholders and were not responsible for the poor/failure previous investments.
Excellent research & good news. As you said i would expect news very soon.
Licence granted in December 2017 expires December 2033. So in place for the next sixteen years. Just typed in civex group licence. Second one down to click on. Does go on a bit but all problems their were have been rectified and licence has been granted. News very soon I would hope.
fingers crossed.
Sure hope so. Rather worrying. Website still down so we can assume little or no sales. Or maybe they are doing it the old fashioned way.
Hope to get an update soon.
Good evening to all. Nearly end of month so I would expect news soon. I think the share purchase agreement is just what it says. They agree a price for our 33% of the shares we hold. Leed will then receive the cash and then decide what to do with it. Reinvest return to shareholders etc. I hope that they turn the company around and relist on aim. But let�s take one thing at a time.
Does that mean they would purchase the shares off the existing shareholders at a fixed price? Trying to understand what the impact of that would be on shareholders. Thanks
Share Purchase Agreement - i think.
Hi BigErn - What's a SPA announcement? Thanks in advance.
Rumour has SPA announcement very soon.
That�s how I see it. Say a 2.5% royalty on every block sold. So �25000 for every �1 million sold. We shall know the actual figure when details are announced could be less or much more. If sales of a million plus a month are achieved which were mentioned when investment was first made a nice sum would be earned at no additional cost to Leed.
Indeed ... Don't think I'll ever recoup losses here been in since before the Manas farce but the more I get back the better & if others can make money I'm happy fir them. GL
Still not completely sure. News soon to clarify. Website down probably for change in ownership. Sid001 and bannor all the best for 2018 and hopefully a prosperous one as far as Leed shareholders are concerned. We have all been waiting a long time for something positive.
The way I understand stand it from the RNS is that we will get proceeds from sale of business (all assets) but with a loyalty clause which would generate revenue for Leeds in future eg fixed percentage of all panel sales.
Steve, just my opininion but wouldn't this paragraph say otherwise.... The Board is currently reviewing options as to what it may do with the proceeds of the sale of Civex Group Holdings and looks forward to updating shareholders shortly on progress of the sale and future investment opportunities.
Think I�m reading it right. A contractor is acquiring all the assets not the shares. In effect Leed will still own 33% of the shares. Probably reading it wrong but seems that we will still have income. I shall wait in anticipation for the next news.
Fingers crossed my friend.
Interesting. Probably being updated for change in ownership. All the best for 2018. Let's hope for some good news here.
I see the website is now down - could get an announcement very soon.
A good decision by the BoD in my opinion as market conditions are very poor in South Australia at present, with the outlook the same for the next couple of years, hence we would have been waiting a long time for a decent income from the panels. Next investment is crucial. Current BoD did not make any of the past disastrous investments, but they have tried hard to salvage them and I feel they have done well to sell the Quarry in South Australia and now have substantial cash in the bank. They have not been taking a salary for quite a while now, which shows they have respect for the interests of shareholders. Good Luck to all. Lets hope 2018 is prosperous for us shareholders.
Sale of intellectual rights. Would include patents. So although new buyer has full control of the business and sales of blocks Leed would receive a small royalty from every sale. It will be interesting once details are known.