Fastbrick Robotics (ASX: FBR) looks to have run into some snags with its Brickworks joint venture.
First announced in early February, the agreement would’ve given Brickwords exclusive rights to be the sole brick supplier for FBR’s one-armed bricklaying robot.
Last night, FBR said negotiations around the memorandum of understanding would be extended for another 45 days.
The company said both sides were still working “constructively and cooperatively” on a shareholder agreement. But it repeated the following disclaimer from its first announcement:
“There can be no assurance that an agreement will be reached within the additional 45 days, or at all.”
Shares in the company were down by around 8 per cent in morning trade to 9.2 cents per share.
While we’re here though, we may as well take another look at HadrianX in action:
In other ASX tech news today
Intellectual property company Xenith (ASX: XIP) announced that the ACCC has no objections to its potential merger with QANTM Intellectual Property Limited (ASX: QIP). It’s not that simple though for Xenith — itself a takeover target of fellow IP player IPH, which snapped up 19.99 per cent of Xenith shares to block the potential Xenith-QANTM merger. The ACCC said it’s yet to run a ruler over IPH’s takeover proposal, adding that today’s approval “should not be interpreted as suggesting a particular decision in the IPH-Xenith matter”.
B2B telecommunications carrier 5G Networks (ASX: 5GN) announced its national network is now live, with the official launch of its Managed Data Network (MPLS). The network spans all capital cities, providing cloud management and hosting services with speeds of up to 10GB. Shares in 5GN were up more than 7.4 per cent to 79.5 cents in morning trade.
And Compumedics (ASX: CMP) had some good news for the market, announcing a distribution agreement with US-based healthcare provider, Adventist Health System. The deal will see Compumedics Neuroscan product added to Adventist’s vendor list for its network of 48 hospitals. The company said it has received a $US1m order from an Adventist-affiliated hospital in Tampa. Shares in Compumedics were up more than 10 per cent to 36 cents.