Path Investments plc (LON: PATH) today provided an update regarding the Heads of Agreement with ARC Marlborough Pty Limited (“ARC”) in relation to the proposed acquisition of ARC by the Company (the “Proposed Transaction”) announced on 18 January 2019.
Within the Heads of Agreement a period of exclusivity was granted by Path to ARC to enter into a definitive Purchase Agreement on or before 28 February 2019. This period of Exclusivity has now expired. However, progress has been made towards the signing of a binding Purchase Agreement between the parties. It is hoped to have the Purchase Agreement finalised in the coming weeks and accordingly the exclusivity period has been extended by mutual consent by one month to 29th March 2019.