Seafolly Holdings Pty Limited entered into a binding sale agreement to acquire Jets Swimwear PTY Limited from The PAS Group Limited (ASX:PGR) on August 10, 2020. The Transaction ensures the continued employment for up to 7 employees. The net proceeds of the Transaction will be applied firstly towards priority claims from employees and the voluntary administrators’ trading costs, then towards satisfying a portion of the claims by the sole secured finance creditor of Jets Swimwear Pty Ltd. The transaction is expected to close on or before August 10, 2020. Seafolly Holdings Pty Limited completed the acquisition of Jets Swimwear PTY Limited from The PAS Group Limited (ASX:PGR) on September 22, 2020.