Non-binding plan to buy up to 100% of Dream Media Network
Price
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Afloat Enterprises approved a non-binding understanding to explore buying up to 100% of Dream Media Network, a private company. Payment would be through an exchange of shares or by issuing Afloat shares, based on independent valuations. The plan still needs due diligence, final agreements, regulatory approvals and, where required, shareholder approval. The document is valid for three months unless extended.
Afloat could gain a digital media business, but the deal is exploratory and shares may dilute existing holders. No price or completion date is set.