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Ecowise Holdings Ltd's ecoWise New Energy Pte Ltd Enters Into Conditional Sale And Purchase Agreement With SDPC Pte Ltd

Friday, 21 Dec 2012 06:11am EST 

Ecowise Holdings Ltd announced that the Company’s wholly-owned subsidiary, ecoWise New Energy Pte Ltd (the “Purchaser”), had on December 21, 2012 entered into a conditional Sale and Purchase Agreement (the “Agreement”) with SDPC Pte Ltd (the “Vendor”) in relation to a proposed acquisition by the Purchaser of 24,643,750 shares of Hivern (“SDPC Sale Shares”) amounting to approximately 99% of the issued and paid up share capital of Hivern from the Vendor for an aggregate consideration of $90,000. The remaining 250,000 shares of Hivern amounting to approximately 1% of the total issued and paid-up share capital of Hivern (“Private Fund Shares”) are held by an independent private fund (the proposed acquisition of the SDPC Sale Shares and the Private Fund Shares are collectively referred as the “Acquisition”). Hivern is a private limited company incorporated on September 09, 1999 in Singapore with a paid up capital of $24,893,750 comprising of 24,893,750 ordinary shares as at the date of this Announcement. The principal activity of Hivern is that of an investment holding company. Hivern has a wholly owned subsidiary in the PRC, Changyi Enersave Biomass to Energy Co. Ltd. The consideration for the Proposed Acquisition is $90,000 and will be satisfied in cash. 

Company Quote

0.0030 +5.77%
19 Sep 2014