30th Jul 2012 10:43
30 July 2012 TEP Exchange Group PLC ("TEP" or "the Company") Extension of termination notice period under licence agreement
Further to the announcement made on 1 June 2012, the Company announces that it has agreed with SL Investment Management Limited ("SL") to extend the termination notice period by a further 30 days to allow SL to further assess the benefits of the Licence Agreement. The agreement can now be terminated on 30 September 2012 by SL giving 30 days' prior written notice to the Company.
The amendment to the Licence Agreement is a related party transaction in accordance with AIM Rule 13. The Independent Directors, being George Kynoch, Moses Kraus and Abraham Weitz, consider, having consulted with the Company's nominated adviser, Merchant Securities Limited, that the terms of the transactions are fair and reasonable insofar as its shareholders are concerned.
A further announcement will be made in due course.
For further information please contact:
TEP Exchange Group plc David Roxburgh 00 353 1 260 7746 Merchant Securities Limited Simon Clements/Virginia Bull 020 7628 2200
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