Company Name: Fastbrick Robotics
Announcement Date: 04/10/2017
Announcement Category: Investment
Australian Robotic technology company, Fastbrick Robotics Limited, is pleased to confirm that all resolutions at Monday's shareholder meeting (2nd October 2017) were passed by way of a show of hands.
Resolution 2 of the meeting confirmed the option term set out in the Caterpillar Memorandum of Understanding (MOU) agreed in July 2017. The Caterpillar MOU provided that , subject to approval by Fastbrick Robotics' shareholders, Caterpillar will have an option to invest a further USD $8 million in Fastbrick Robotics at an issue price of AUD $0.20 per share. This additional potential investment via the Caterpillar option is in addition to the USD $2 million equity investment made by Caterpillar in July 2017.
Following Monday's meeting, the Company's shareholders have approved the Caterpillar option as noted above, with Caterpillar having until 30 June 2018 to exercise their option.
Please see the attached link for a full report of the meeting.
Announcement URL: http://www.asx.com.au/asxpdf/20171002/pdf/43mw8b7c27nvz9.pdf
About Fastbrick Robotics:
Fastbrick Robotics Limited (ASX:FBR) is an Australian robotic technology company developing and commercialising digital construction technology solutions. Fastbrick Robotics’ revolutionary bricklaying machine Hadrian X represents the first application of the Company’s underlying intellectual property portfolio. Hadrian X is a globally patented 3D robotic bricklaying system and marks the transition to dynamically stabilised robots (DSR) operating outdoors in uncontrolled environments.
Fastbrick is currently advancing its robotics technology through a Memorandum of Understanding (MOU) with Caterpillar Inc. (NYSE:CAT) demonstrating global scalability and a MOU with the Kingdom of Saudi Arabia highlighting customer demand for Fastbrick's technology. Fastbrick is committed to improving the safety, speed, accuracy, cost and waste management in the global construction industry through utilising the world’s latest innovations in mobile robotic technology.
Go to Company Profile for: Fastbrick Robotics
Announcement Contact: [email protected]