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Tuas Says Agreement For Simba Telecom's Purchase of Shares in M1 Terminated

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Tuas (ASX:TUA) said the sale and purchase agreement between it and its unit Simba Telecom, and Keppel Konnect and Konnectivity regarding Simba's purchase of the shares in M1 was terminated, according to a Friday Australian bourse filing.

Under the terms of the agreement, it would be terminated if the conditions precedent were not fulfilled or waived by the long-stop date. The long-stop date had earlier been extended to Thursday. Several conditions precedent were not met on the same date.

Simba continues to cooperate with the ongoing investigation being conducted by the Infocomm Media Development Authority into potential breaches of the Telecommunications Act and the conditions of Simba's facilities-based operator license.

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