Triton Minerals Limited (ASX:TON) Updates on Share Sale Agreement
Transaction Progress
Triton Minerals Limited (ASX:TON) has announced progress regarding its Share Sale and Purchase Agreement (SSAP) with Shandong Yulong Group. Following the previous announcements, the company has now received the first tranche payment of AUD 3 million from Yulong.
Amendments to Payment Structure
The company has executed a Deed of Amendment to the SSAP, which became effective on 31 December 2024. Key amendments to the agreement include the division of the second payment of AUD 5.95 million into two tranches.
The first tranche of AUD 3 million was paid prior to Pre-Completion, while the second tranche of AUD 2.95 million will be paid within three business days after Triton notifies Yulong of the satisfaction of shareholder approval conditions or sooner, if required by ASIC. Specific clauses in the SSAP have been updated to reflect this new payment structure.
Compliance and Commitments
The amendments were necessary to facilitate the transaction completion, ensuring compliance with regulatory and contractual obligations. The Deed of Amendment reaffirmed the validity and enforceability of the SSAP, allowing all other terms to remain unchanged. Triton Minerals is committed to fulfilling the necessary preconditions and advancing the transaction as part of its strategic objectives.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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