Sale of AMI equipment- promissory note receipt

Key points

• Company sold AMI equipment for US$4 million
• Received US$1 million on signing, remaining US$3 million as promissory note
• First tranche of US$1 million promissory note received

Full summary

Merchant House International Ltd has announced the sale of equipment at its AMI factory in the USA for a total of US$4 million. The terms of the sale include US$1 million received on signing, and the remaining US$3 million to be paid via a promissory note. The company has now received the first tranche of the promissory note, comprising US$1 million. This announcement was authorized for issue by the Board of the Company.