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MCS Services Limited (ASX:MSG)

ALERT: Price-sensitive ASX Announcement for MSG
Current share price for MSG : $0.003 -0.002 (-40%)+
Announcement
Release
21 Apr 2026 2:00PM
Price at Release
$0.005
Full Release
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Summary
MCS Services Limited has announced that it received shareholder approval for the sale of its subsidiary, Highways Traffic Pty Ltd, to Altus Traffic Pty Ltd during an extraordinary general meeting held on 21st April 2026. The sale is structured under an Asset Purchase Agreement involving a payment of $1.16 million and includes the transfer of key assets such as the vehicle fleet, intellectual property, and contracts, along with offers of employment to current employees. The transaction is expected to be completed by 30th April 2026 with remaining conditions including asset inspections and contract novations to be finalized by 28th April 2026.
Key Points
  • Shareholder approval received for sale of Highways Traffic Pty Ltd.
  • Sale agreement with Altus Traffic Pty Ltd for $1.16 million.
  • Transfer includes vehicle fleet, intellectual property, and contracts.
  • Completion expected by 30th April 2026.
  • Conditions precedents include inspection and contract novation.
  • Offers of employment to be made to Highways Traffic employees by Altus.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.