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Blumont Group Ltd Announces Proposed Acquisition Of Entire Issued And Paid Up Share Capital Of Powerlite Ventures Limited


Wednesday, 17 Jul 2013 07:19am EDT 

Blumont Group Ltd. announced that it had entered into a conditional sale and purchase agreement of the same date (the Sale and Purchase Agreement) with Mr Lee Chai Huat (the Vendor) for the proposed acquisition of 100 ordinary shares (the Acquisition) in the capital of Powerlite Ventures Limited (PVL), representing the entire issued and paid up share capital of PVL, for a cash purchase consideration of USD7,875,000 (being equivalent to SGD10,001,2501 ) (including the assignment of loans provided by the Vendor to PVL amounting to an aggregate of USD4.5 million (being equivalent to approximately SGD5.7 million) (the Shareholder’s Loans)) (the Purchase Consideration). 

Company Quote

0.052
-0.0020 -3.70%
29 Jul 2014