Lateral Corp goes private, sells NZAX listing to property newcomer, Golden Tower

Thu, 29 Dec 2016

By Sophie Boot Dec. 30 (BusinessDesk) - NZAX-listed mobile payments company Lateral Corp is the vehicle for a backdoor listing in a $3.2 million deal with property developer Golden Tower NZ. In a transaction valued at $3.2 million, Auckland-based Golden Tower will pay $1.6 million in cash and add as an asset a commercial property valued at $1.6 million for new shares giving it a 90 percent shareholding in Lateral. The deal is dependent on shareholder approval, Lateral said in a statement. Golden Tower, which was incorporated in May 201...

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