Broadway Industrial Group Limited : Response to query regarding trading activity .Not aware of any possible explanation for unusual volume movements in company's shares on 23 march 2017.
Broadway Industrial Group Ltd : The proposed disposal of the foam plastics solutions and flow control device businesses of the group) . Says aggregate consideration for the proposed disposal shall be s$150 million . Group expects to receive at completion, gross proceeds of approximately s$136 million from disposal . Co and Broadway Holdings III ltd ("purchaser") entered into a conditional sale and purchase agreement . Group intends to utilise net proceeds for repayment of part of its banking facilities, financing of working capital . Net gain attributable to the sale of the disposed businesses is s$14.4mln . Agreement for the sale and disposal by co to the purchaser of the foam plastics solutions and flow control device businesses of group .