Australian semiconductor technology developer BluGlass Limited (ASX:BLG) has been advised by a substantial shareholder, SPP Technologies Co., LTD (SPT), that SPT and Lanstead Capital L.P (Lanstead) have terminated their arrangement in relation to the acquisition of SPT’s shareholding in BluGlass by Lanstead.
As announced to the ASX on 15 January 2019, SPT and Lanstead entered an arrangement whereby Lanstead would gradually acquire SPT’s shareholding in BluGlass over a 36-month period. That agreement has now been terminated.
SPT currently holds approximately 36.5m shares (5.14% of the BluGlass issued capital).
This announcement was approved for release by the Board.