(MENAFN- ABN Newswire) ASX:RYG) ("Raya" or "the Company") is pleased to advise that today it has completed the acquisition of Xped Holdings Limited (Xped) pursuant to the heads of agreement (as varied) announced to the market on 26 October 2015.
The Company has issued all of the Xped consideration securities on completion. The Company also wishes to advise that it has partially settled the public offer in the amount of $2700000 with the balance of the public offer to settle on 30 March 2016. Attached is an Appendix 3B in this regard.
The Company has received confirmation from ASIC regarding its change of name to Xped Limited as approved by shareholders at the recent EGM.
The Company is now finalising all outstanding ASX conditions to complete the relisting of its shares on ASX.
The expected date for re-quotation of the Company's shares on the ASX (subject to RYG satisfaction of Chapters 1 and 2 of ASX Listing Rules) is 5 April 2016.
To view the securities subject to escrow please visit:
http://abnnewswire.net/lnk/572I8RD6
About Raya Group Ltd
Until recently Raya Group(ASX:RYG) was an exploration and development company which was focused on the exploration and development of geothermal assets in Australia and Indonesia. Raya announced to the market its intention to acquire Xped Holdings Limited and entered into a Head of Agreement with key shareholders of Xped to acquire all of the issued capital in Xped. Raya seeks to change its name to Xped Limited (ASX:XPE) following shareholder approval of the Xped transaction and associated resolutions at the upcoming General Meeting in February. Xped is an information technology company focused on the development of Auto Discovery Remote Control technology which allows for a common platform for devices to share a common language making Internet of Things Technology a reality.
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