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ComOps Ltd [COM] announces Completion of Acquisition of E‐Tivity Intellectual Property Purchase Deed

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19 November  2014

ComOps Limited is pleased to advise that further to the announcement on 5 September 2014, and the approvals given by Shareholders at a General Meeting of the Company on 17 November 2014, completion of the E-tivity intellectual property purchase deed occurred yesterday.

The consideration payable under the intellectual property deed was $4.5 million. The consideration is $2.5 million in cash (less the balance of $500,000 loan facility made available on 5 September 2014 - refer below) and the issue of $2.0 million worth of fully paid ComOps ordinary shares (66,666,667 ComOps shares at an issue price of 3 cents per share) ("Completion Shares"). The Completion Shares were issued yesterday. All of the Completion Shares are subject to voluntary escrow and they will cease to be subject to voluntary escrow on 18 May 2016.

An Appendix 3B relating to the issue of the Completion Shares is attached. Click here to view Appendix 3B.

The balance of the loan outstanding together with interest, less the amount of royalties payable to the sellers in the period between 5 September 2014 and Completion, was set off against the cash component of the purchase price. The payment of the balance of the cash amount was satisfied by the issue of a bill of exchange to be satisfied in 14 day's time.

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