08 Dec Receipt of Net Sale Proceeds
ThinkSmart (“ThinkSmart” or the “Company”) (formerly AIM: TSL) announces that, following the sale of the 468,667 Block Sale Shares on the NYSE on 5 December 2022, the Company has today received the sale proceeds net of sale fees and bank transfer charges as follows (all in USD):
| Gross sale proceeds Less: 0.5% broker sale fee Less: SEC fee on sale Less: bank transfer fee Net sale proceeds received |
$30,016,246.68 -$150,081.23 -$687.37 -$25.00 $29,865,453.08 |
The net sale proceeds have been transferred to Tuscan Equity Pty Ltd (“Tuscan Equity”) by way of a loan and will now be converted to Pounds Sterling and Australian Dollars, as applicable, by Tuscan Equity which is expected to occur on the morning of 9 December 2022 Perth time.
Cash Consideration
The Cash Consideration will be paid to shareholders on the terms set out in the Scheme Booklet dated 24 October 2022. ThinkSmart may provide updates, as appropriate, on its website at www.thinksmartworld.com relating to the payment of the Cash Consideration.
Timetable
The indicative timetable for the key outstanding milestones under the Scheme remains as set out on pages 14 to 16 of the Scheme Booklet and is also set out below.
| Event | Date |
| Payment of Scheme Consideration | As soon as practicable following the sale of the Block Sale Shares, expected to be approximately 8 Business Days after completion of the sale of the Block Sale Shares |
Capitalised terms used in this announcement shall, unless otherwise defined, have the same meanings as set out in the Scheme Booklet.
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