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Pure One Corporation Limited (ASX:P1E)

ALERT: Price-sensitive ASX Announcement for P1E
Current share price for P1E : $0.036 -0.039 (-52%)+
Announcement
Release
22 Dec 2025 9:18AM
Price at Release
$0.075
Full Release
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Summary
Pure One Corporation Limited announced the sale of its 40% equity interest in Turquoise Group Pty Ltd for a total consideration of AUD 5 million. This transaction, structured as a conditional share buy-back, is part of Pure One's strategic move to exit non-core investments and focus on its core technologies, particularly in the field of zero-emission mobility and clean energy. The sale is expected to generate a profit of approximately AUD 3.4 million for the company. The payment will be made in two installments: AUD 3.5 million upon completion and AUD 1.5 million within 12 months, with an option for Turquoise Group to extend the payment by another 12 months at an interest rate of 15% per annum. The transaction is subject to customary conditions, including due diligence and securing sufficient funding by Turquoise Group, with completion expected within 90 days. Pure One's Managing Director, Mr. Scott Brown, emphasized the transaction's alignment with the company's strategic objectives to optimize capital allocation towards core business areas.
Key Points
  • Pure One Corporation Limited is selling its 40% equity interest in Turquoise Group Pty Ltd.
  • The total sale consideration is AUD 5 million.
  • The sale will generate an anticipated profit of AUD 3.4 million for Pure One.
  • Initial payment of AUD 3.5 million is due upon completion; AUD 1.5 million is due within 12 months.
  • Turquoise Group can extend the 12-month payment by another year with 15% annual interest.
  • Transaction completion is contingent on due diligence and securing sufficient funding by Turquoise Group.
  • The sale aligns with Pure One's strategy to focus on zero-emission mobility and clean energy technologies.
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.