Integrated Media Technology Limited subsidiary enters into a share subscription agreement to raise approximately AUD 2,539,000 (HKD $15 Million)
Integrated Media Technology Limited - Ordinary Shares (IMTE)
US:NASDAQ Investor Relations:
nasdaq.com/symbol/imte
Company Research
Source: GlobeNewswire
HONG KONG and NEW YORK, May 24, 2018 (GLOBE NEWSWIRE) -- Integrated Media Technology Limited (ASX:ITL) (NASDAQ:IMTE) (“IMT” or the “Company”) announces today that, its wholly owned subsidiary, Marvel Digital Limited (“MDL”), has entered into a Share Subscription Agreement (the ”Subscription Agreement”), dated 24 May 2018, with an independent investor (the “Investor”), pursuant to which MDL agreed to issue and sell to the Investor, and the Investor agreed to purchase, 15,790 ordinary shares of MDL (“New Shares”), at an aggregate subscription price of HK$ 15 million, approximately AUD 2,539,000. The consideration will be paid by the Investor in cash by four instalments, in which a non-refundable amount of HK$ 2 million, approximately AUD 339,000 has been paid by the Investor upon signing of the Subscription Agreement, HK$ 5 million, approximately AUD 846,000 shall be paid on or before 5 June 2018, HK$ 4 million, approximately AUD 677,000 shall be paid on or before 1 July 2018 and th
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