Milestone Group PLC Milestone Group Plc : Update Black Cactus Global Inc - Licence Agreement

 
TIDMMSG 
 
 
   MILESTONE GROUP PLC 
 
   ("Milestone" or the "Company") 
 
   Update Black Cactus Global Inc - Licence Agreement 
 
   Milestone (AIM:MSG), the AIM quoted provider of digital media and 
technology, announces that further to the announcement made 6 December 
2017 relating to a Software Licence Agreement between the Company and 
Black Cactus Global Inc (Formerly Envoy Group Corp). 
 
   Following a review of the Company's requirements of the Licence 
Agreement by both parties, they have agreed to cancel the original 
Licence Agreement and enter into a revised agreement to provide the 
Company with the products and services it requires as well as providing 
access to Black Cactus's Consultancy services. This change is in 
alignment with the Company's strategy of procuring technical services 
and IP from multiple sources on a "best of breed" basis. 
 
   The Licence Agreement dated 4 December 2017 had a requirement for the 
Company to issue Black Cactus Global Inc 744,131,477 shares which 
equated to 29.5% of its enlarged share capital ("Share Consideration") 
subject to shareholder approval. With the cancellation of the Licence 
Agreement the obligation of the Share Consideration has been removed 
from the Company. 
 
   The terms of a revised agreement are currently being negotiated but will 
not require the issuance of any shares as part of the consideration for 
entering into the agreement, a further announcement will be made in due 
course. 
 
   For further information: 
 
 
 
 
Milestone Group PLC                              Tel: [phone] 
 Tony Sanders 
Cairn Financial Advisers LLP, Nominated Adviser  Tel: [phone] 
 Liam Murray / Jo Turner 
Hybridan LLP, Broker                             Tel: [phone] 
 Claire Louise Noyce 
Walbrook PR Limited, PR                          Tel: [phone] 
 Gary Middleton / Paul Cornelius 
 
 
 
   This announcement is distributed by Nasdaq Corporate Solutions on behalf 
of Nasdaq Corporate Solutions clients. 
 
   The issuer of this announcement warrants that they are solely 
responsible for the content, accuracy and originality of the information 
contained therein. 
 
   Source: Milestone Group PLC via Globenewswire 
 
 
  http://www.milestonegroup.co.uk/ 
 

(END) Dow Jones Newswires

February 28, 2018 10:07 ET (15:07 GMT)

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