At the same time, the proposed reverse convertible note (RCN) issuance agreement had also lapsed on Jan 22 this year as conditions for the closing of the first sub-tranche of the Tranche 1 RCN Notes were not fulfilled.
SINGAPORE (April 22): Global Invacom, has cancelled its proposed US$200 million ($280 million) acquisition of Tactilis due to “difficulties in fulfilling all of the conditions precedent” in the sale purchase agreement (SPA) it signed with the vendor last year.
With the termination also comes the cessation of 5% coupon-rate convertible notes meant to be issued by Tactilus.
