Kalia Limited completed the acquisition of remaining 27.71% stake in Kalia Holdings Pty Ltd. from Global Resources Investment Trust Plc.
The transaction is subject to certain conditions including signing of formal agreement; Kalia Limited's shareholders' approval and regulatory approvals. The condition of signing of agreement must be satisfied on before March 14, 2018 while condition related to shareholders approval must be fulfill on or before April 14, 2018. As of April 11, 2018, the extra ordinary general meeting will be held on May 11, 2018. On May 11, 2018, the shareholders of Kalia Limited approved the transaction. An AUD 3 million loan facility to be made available on completion of transaction to advance exploration activities. Sherif Andrawes, Adam Myers, Stuart Moore and Georgia Sullivan of BDO acted as accountant to Kalia Limited (ASX:KLH).
Kalia Limited (ASX:KLH) completed the acquisition of remaining 27.71% stake in Kalia Holdings Pty Ltd. from Global Resources Investment Trust Plc (LSE:GRIT) on May 16, 2018.