- Rayont <<RAYT>> has signed the asset sale pact for sale of Next Generation Photo Dynamic Therapy (NGPDT) License for Sub-Sahara Africa and its equipment.
- The pact is between Rayont (Australia) Pty Ltd (Asset Seller), Rayont International (L) Limited (License Seller) and Nova Medical Group Pty Ltd (Buyer) for a consideration of $3.5M or equivalent to AUD 5M.
- The consideration is split as follows: License for Sub-Sahara Africa of $2.5M and Equipment of $1M.
- "The cash to be generated over time from this sale improves the cash position and liquidity of Rayont Group," said Rayont’s President & CEO, Ms Marshini Aliya Moodley.