Subject: LAW
Invuo Considers Legal Actions Related to the AJ Group Transaction
STOCKHOLM, May 22, 2018 /PRNewswire/ -- Following today's announcement of Invuo Technologies AB´s ("Invuo") sale of assets related to Seamless Distribution Systems AB ("SDS"), Invuo confirms that it will now consider to take legal actions as a result of the non-executed transaction with AJ Group Holdings Ltd ("AJ Group").
As announced in a press release on March 6, 2018, AJ Group has signed a subscription undertaking which represented a total investment, in Invuo shares and SDS related assets, of SEK 52 million. As AJ Group has failed to fulfil its legal obligations under the subscription undertaking, Invuo will consider taking legal actions as a result of this severe breach of contract.
In addition, and as announced separately, Sheliza Jamal, has resigned from the Invuo Board.
For further information, please contact:
John Longhurst
CEO
[email protected]
+46-8-564-878-00
This information is such that Invuo Technologies AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. This information was submitted for publication, through the agency of the contact person set out above, at 08.30 CEST on May 22, 2018.
About Invuo
Since 2001 Invuo has been providing its proprietary solutions and systems for mobile phone transactions. Invuo operates in two main business areas; mobile phone payment solutions provided through the brand MeaWallettm, and distribution of e-products. www.invuo.com
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