Spectur Limited entered into a binding agreement to acquire 3 Crowns Technologies Pty Ltd from Coastalwatch Holdings Pty Ltd for AUD 0.85 million.

Spectur Limited (ASX:SP3) entered into a binding agreement to acquire 3 Crowns Technologies Pty Ltd from Coastalwatch Holdings Pty Ltd for AUD 0.85 million on December 23, 2022. AUD 0.6 million will be paid in cash and AUD 0.25 million will be paid in shares of Spectur, out of which 50% of these shares will be subject to voluntary escrow for a period of 3 months from completion, with the balance subject to voluntary escrow for a period of 6 months from completion. The transaction is subjected to Russell Holt, general manager of 3CT having executed an employment agreement with Spectur.

The transaction has obtained regulatory approval and Spectur shareholder approval.