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Cedar Strategic Holdings Ltd Announces Proposed Acquisition Of Entire Issued And Paid Up Share Capital Of Trechance Holdings Limited


Wednesday, 22 May 2013 04:52am EDT 

Cedar Strategic Holdings Ltd announced that further to the announcement made earlier, in relation to the memorandum of understanding entered into by the Company with Talented Creation International Limited (the Vendor) for the proposed acquisition (the Proposed Acquisition”) of the entire issued and paid-up share capital of Trechance Holdings Limited (Trechance). Further to the MOU Announcement, the Board announced that the Company has on May 22, 2013, entered into a conditional sale and purchase agreement (the Sale and Purchase Agreement) with the Vendor pursuant to which the Company shall acquire from the Vendor the entire issued and paid-up share capital of Trechance, for a consideration of SGD936,212,000, (the Consideration), to be satisfied in full by the issue and allotment of new ordinary shares in the Company (the Consideration Shares). Trechance is an investment holding company incorporated in Hong Kong. It has an issued and paid-up share capital of HKD10,000 comprising 10,000 ordinary shares. Completion is to take place not later than 14 business days after all the Conditions Precedent have been fulfilled (or if not fulfilled, are waived by the relevant Parties in accordance with the Sale and Purchase Agreement), provided that Completion shall occur at a date no later than the day falling 6 months from the date of the Sale and Purchase Agreement or extended by mutual agreement between the relevant Parties. 

Company Quote

0.0010
-0.0010 -50.00%
19 Dec 2014