Vending Technologies settles Soche backoff case

Friday 10th May 2002

Vending Technologies Ltd has settled a dispute with Soche Pty over the post-September 11 withdrawal of VTL's $2.5 million offer to buy the Australian company.

VTL claimed the agreement gave it rights to withdraw if adverse market conditions arose. Soche disagreed.

VTL said the settlement was for considerably less than the $A2 million Soche had sought.

It said the decision to settle had been made after quantifying the costs involved in defending the action.

Director Mervyn Doolan said VTL still wanted to expand in Australia "via our proprietary technologies and the unique licensing programmes."

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

PEB - Medicare Coverage for Triage & Triage Plus Confirmed
AIA - Auckland Airport bond offers: bookbuild update no. 2
BGP - 3rd Quarter Sales to 25 October 2026
MLN - Marlin Global Investment Mandate
TCM - Fast-Track Panel Draft Decision - Approve Barrytown Project
RGI - RUA Gold Substantive Fast-track Application for Auld Creek
CEN - Contact green Capital Bond offer closes
SKC - Intention to Appoint New Director
TEM - Transaction in Own Shares
ALF - Conditional Sale of Waikato Properties