• Settlement Agreement executed to deal with residual joint venture issues
• Beam expects to receive ~AU$4.1M, over and above sale of 50% stake in Zoleo Inc.
• Payment includes ~AU$3.9M for early payout of royalties and ~AU$238K for other adjustments

Beam Communications Holdings Limited (ASX: BCC) has signed a Settlement Agreement with Roadpost Inc. that will see the company receive what it estimates to be circa US$2.6 million (~AU$4.1 million) in addition to the sale of its 50% stake in the Zoleo Inc. joint venture (JV). The payment under this Agreement is for Beam's ZOLEO royalty stream from its exclusive territories (Australia and New Zealand) and for its existing ZOLEO devices held in inventory, plus incidental adjustments. Beam estimates it will be paid approximately US$2.5 million (~$3.9 million) for Beam's royalties, which will be calculated by tabulating Beam's active customers 90 days post the transfer of Beam's shares in the JV. The Agreement also settles other outstanding issues relating to the impending sale of Beam's shares in Zoleo Inc. to its JV partner, Roadpost, including the transfer of intellectual property and manufacturing rights for the ZOLEO device. Separate to the Agreement, Beam will receive payment for selling its 50% stake in Zoleo Inc. to Roadpost in four equal instalments over a 36-month period. Both Beam and Roadpost have appointed Secretariat Advisors, LLC. to determine the fair market value of the JV. The Board intends to undertake a full review of the Company's position and agree on the best way to return capital to shareholders after the release of the valuation.