SWP.ASX: Binding Agreement to Sell Melbourne Fibre Project

Binding Agreement to Sell Melbourne Fibre Project

Stock	Swoop Holdings Ltd (SWP.ASX)
Release Time	25 Jun 2026, 6:25 p.m.
Price Sensitive	Yes

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Swoop Enters Binding Agreement to Sell Melbourne Fibre Project

Key Points

Swoop has entered into a binding Share Sale Agreement to sell Luminet Fibre Pty Ltd.
Purchase price comprises $11 million in cash plus reimbursement of certain project costs.
Transaction removes Swoop's capital expenditure and development obligations.

Full Summary

Swoop Holdings Limited (ASX: SWP) has entered into a binding share sale agreement to sell 100% of Luminet Fibre Pty Ltd, the owner of the Melbourne Fibre Project, to Xenith IG Australia Holdings Pty Ltd, a subsidiary of Xenith Infrastructure Group. The transaction involves a cash payment of $11 million and reimbursement of certain project costs. The sale removes Swoop's remaining capital expenditure and development obligations associated with the Melbourne Fibre Project, and the net proceeds will be used to reduce debt. Completion of the transaction is subject to certain conditions, including Foreign Investment Review Board approval, and is expected in Q1 of FY2027.

Guidance

Swoop expects to receive $11 million in cash from the sale of the Melbourne Fibre Project.

Outlook

The sale of the Melbourne Fibre Project is expected to simplify Swoop's operations and allow management to focus on its core telecommunications business.