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Enviro-Hub Holdings Ltd's EH Property & Investments Pte. Ltd. Announces Acquisition Of F2S1 Investment Pte. Ltd.


Tuesday, 25 Jun 2013 09:48am EDT 

Enviro-Hub Holdings Ltd's EH Property & Investments Pte. Ltd. (EH Property) had on June 21, 2013 entered into a conditional share sale and purchase agreement (SSA) with Aceland Investment Ltd. (Vendor) to acquire the entire issued and paid-up share capital of F2S1 Investment Pte. Ltd. (F2S1), comprising 102,106,000 ordinary shares (Sale Shares), from the Vendor for an aggregate consideration calculated under paragraph 2.4 below, on the terms and subject to the conditions of the SSA (Proposed Acquisition). In this announcement, the Company and its subsidiaries are collectively referred to as the Group. Upon Completion (as defined below) of the Proposed Acquisition, F2S1 will be a wholly-owned subsidiary of EH Property and will be a subsidiary of the Company as defined in the Companies Act of Singapore. The total consideration for the sale and purchase of the Sale Shares shall be the amount determined by deducting the Bank Liabilities as at the Completion Date from the sum of S$336,000,000 and adding or subtracting (as the case may be) back the Completion NOAVof F2S1 as at the Completion Date (Consideration). The Consideration was arrived at on a willing buyer-willing seller basis after taking into account the Valuation Report, the Bank Liabilities of F2S1, the current market prices of properties in the surrounding area and EH Property’s assessment of the Property’s investment potential. 

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26 Dec 2014