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Asiasons Capital Ltd Announces Proposed Acquisition Of 21.6% Of Issued And Paid-up Share Capital Of Posh Corridor Sdn. Bhd. And 22.59% Of Issued And Paid-up Share Capital Of Portwell Investments Ltd


Wednesday, 15 Aug 2012 04:32am EDT 

Asiasons Capital Ltd announced that the Company has on August 15, 2012 entered into two separate sale and purchase agreements with the Vendor in respect of the proposed acquisition by AIL from the Vendor of the following: an aggregate of 216 fully paid up ordinary shares of RM1.00 each in the share capital of Posh Corridor Sdn. Bhd. (Posh Corridor), which represent 21.6% of the issued and paid-up share capital of Posh Corridor for a purchase consideration of SGD10,667,828; and an aggregate of 2,259 fully paid up ordinary shares in the share capital of Portwell Investments Limited (Portwell), which represent 22.59% of the issued and paid-up share capital of Portwell (Portwell Sale Shares) for a purchase consideration of SGD6,620,000. The purchase consideration of S$10,667,828 for the proposed acquisition of the Posh Sale Shares was arrived at on a willing buyer and willing seller basis, after taking into account, inter alia, the 32,824,087 ordinary shares in Chaswood held by the Vendor via Posh Corridor, the closing price of S$0.325 for each ordinary share of Chaswood on the market day preceding the date of the SPA and a premium of 4.17% to the volume weighted average price of S$0.312 for each Chaswood’s share on the market day preceding the date of the SPA as well as various commercial factors, such as the track record, financial performance and potential business growth of the Chaswood Group. 

Company Quote

0.055
-0.0010 -1.79%
24 Jul 2014