ID Global Solutions Corporation (TYO:6701) Files An 8-K Entry into a Material Definitive Agreement

ID Global Solutions Corporation (TYO:6701) Files An 8-K Entry into a Material Definitive Agreement

Story continues below

Item 1.01

Entry into a Material Definitive Agreement

On December 30, 2016, ID Global LATAM S.A.S. (IDG LATAM), a
wholly owned subsidiary of ID Global Solutions Corporation (the
Company), entered into a Contract for the Provision of Cash
Collection Services (the Contract) with Recaudo Bogota S.A.S.
(RB), a Colombian company, to which the Company agreed to supply,
maintain and provide platform services for 740 unattended payment
collection and fare ticketing kiosks, in consideration of
approximately 90.6 billion COP (excluding VAT) payable over the
ten year period of the Contract.

to the contract IDG LATAM is required to obtain a performance
bond from a financial institution in the amount of 18.6 Billion
COP. In addition, IDG LATAM will need to obtain financing for the
cost of the equipment to be supplied but has not as of the date
hereof entered into a definitive agreement for such financing.

The foregoing information is a summary of each of the agreements
involved in the transactions described above, is not complete,
and is qualified in its entirety by reference to the full text of
the agreement, which is attached as an exhibit to this Current
Report on Form 8-K. Readers should review those agreements for a
complete understanding of the terms and conditions associated
with this transaction.

Item 9.01Financial Statements and Exhibits

Exhibit No. Description
10.1 Contract for the Provision of Cash Collection Services
entered into by and between ID Global LATAM S.A.S. and
Recaudo Bogota S.A.S. dated December 30, 2016 *

* Portions of this exhibit have been redacted to a request for
confidential treatment submitted to the Securities Exchange
Commission.


About ID Global Solutions Corporation (TYO:6701)

NEC Corporation provides information technology (IT) and network technologies. The Company’s products and services include systems integration, maintenance and support, outsourcing/cloud services and system equipment. In the public business, the Company provides social solutions for domestic and foreign governments, governmental agencies, local governments, public institutions, financial institutions and other organizations by combining its technology assets, including network and sensor technologies, and analysis technology. It provides IT solutions in manufacturing and retail/services in the private sector. In the telecom carrier business, the Company supplies equipment to telecom carriers for network implementation, along with network control platform systems and operating services. In the system platform business, it provides products for business, ranging from terminals to network and computer equipment, software products and service platforms.

ID Global Solutions Corporation (TYO:6701) Recent Trading Information

ID Global Solutions Corporation (TYO:6701) closed its last trading session down -3.00 at 318.00 with 11,128,000 shares trading hands.

An ad to help with our costs