Invuo considers legal actions related to the AJ Group transaction

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, john.longhurst@invuo.com, +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 MeaWallet™, and distribution of e-products. www.invuo.com

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About Us

Founded in 2001 (and previously named Seamless Distribution), Invuo Technologies is a mobile payments technology company, which provides innovative B2B mobile payment services and electronic top-up systems for the financial industry, mobile operators and retailers. Our goal is to maximise value for shareholders while making positive contributions to the technology sphere.

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