Beam Communications receives US$9M lump-sum from Roadpost

Beam Communications (ASX:BCC) has received a lump-sum payment of US$9 million from Roadpost, marking the full resolution of matters related to its divestment of Zoleo.

The payment comprises US$2.53 million in settlement proceeds and US$6.5 million from the sale of Beam’s equity interest in Zoleo.

Originally, Beam was to receive US$6.9 million for its 50% stake in Zoleo over four instalments across three years.

Under the agreement, these payments were accelerated and discounted at an effective rate of 8.5% per annum, enabling immediate value realisation and eliminating execution, counterparty, timing, and currency risks associated with deferred payments.

The settlement also resolves all ongoing disputes.

Beam and Roadpost have formally withdrawn from arbitration proceedings, and a Representations & Warranties insurance policy has been secured to cover residual liabilities, with the premium cost shared equally.

Beam’s maximum contingent exposure under the policy is limited to US$100,000, and the company now has no further involvement or economic interest in Zoleo.

At the time of reporting, Beam Communications’ share price was $0.16.