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AnnAik Ltd Announces Increase Of Shareholding Interest In Shinsei Superinox Industry Pte. Ltd.


Tuesday, 9 Jul 2013 05:03am EDT 

AnnAik Ltd announced that the Company has on July 08, 2013 acquired 35 ordinary shares, representing 35% of the issued and paid-up share capital of Shinsei Superinox Industry Pte. Ltd. (SSI), from two individual parties, at a consideration of SGD1 per share, in cash. In connection with the aforesaid increase of shareholding interest by the Company, the equity participation in SSI shall be as follows: the Company will hold 75% and Tatt Giap Group Berhad will hold 25%. The aggregate consideration of SGD35 for the SSI shares is funded by internal resources. SSI is now a 75%-owned subsidiary of the Company. 

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16 Mar 2015