Key Developments: Europtronic Group Ltd (ETGL.SI)

ETGL.SI on Stock Exchange of Singapore

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4 May 2015
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Latest Key Developments (Source: Significant Developments)

Europtronic Group Ltd proposes disposal of eight wholly owned subsidiaries
Monday, 9 Mar 2015 06:33am EDT 

Europtronic Group Ltd:Says together with Europtronic Investment Pte Ltd and Europtronic Co., Ltd, being it's wholly owned subsidiaries, had, on March 9, entered into conditional sale and purchase agreement relating to proposed disposal of eight wholly owned subsidiaries.Says it will dispose it's entire interest in Europtronic Company Limited, Europtronic (Taiwan) Ind. Corp, UPT Component (S) Pte Ltd.Also Europtronic Electronic (Shenzhen) Co Ltd, Europtronic Green Energy Pte Ltd, UPT Crypson Component (Shanghai) Co Ltd, Housing Technology Corp, Crypson Electronics (S) Pte Ltd.Sale Price of S$1.00 for entire sale interest was arrived.Taking into account that sale entities collectively had negative net asset value about $1.3 mln as at Dec. 31, 2014.Sale Price is to be satisfied in cash by purchaser on completion of proposed disposal.Subject to completion having occurred, the purchaser and vendors agreed that transfer of entire sale interest by vendors to the purchaser shall be deemed to have taken place on Jan. 1.  Full Article

Europtronic Group Ltd announces re-designation of Huang Shih-an as non-executive chairman and non executive director
Wednesday, 3 Dec 2014 04:56am EST 

Europtronic Group Ltd:Announces that Huang Shih-An has given notice to relinquish his position as the Chairman and Executive Director of the Company to take effect on Dec. 3 due to health and medical reasons.Huang Shih-An will remain on the Board and has been re-designated as the Non-Executive Chairman and the Non-Executive Director of the Company with effect from Dec. 3.  Full Article

Europtronic Group Ltd to sell ESPL
Friday, 26 Sep 2014 05:23am EDT 

Europtronic Group Ltd:Entered into a sale and purchase agreement with Guo ChunHua (purchaser) to sell and the purchaser has agreed to purchase 8,800,000 ordinary shares in the capital of Europtronic (Singapore) Pte Ltd (ESPL).It is representing the entire issued and paid-up share capital of ESPL, at a cash consideration of S$1.00 in aggregate.Accordingly, ESPL has ceased to be a wholly owned subsidiary of the company with immediate effect.  Full Article

Europtronic Group Ltd does not recommend dividend
Friday, 8 Aug 2014 06:15am EDT 

Europtronic Group Ltd:No dividend has been recommended by the Directors for the second quarter ended June 30, 2014.  Full Article

Europtronic Group Ltd updates on proposed acquisition and disposal
Wednesday, 30 Jul 2014 05:23am EDT 

Europtronic Group Ltd:Refers to announcement dated July. 31, 2013 in which it had announced that it had entered into conditional sale and purchase agreement dated July. 29, 2013 (SPA).Says with All Sincere Limited, Manbon Limited, Longbest Co., Limited, Regalis Investments Pte Ltd, Max Tong, Lu Hong and Low Yew Shen (collectively, the Vendors) and Huang Chien Hung (Huang).Pursuant to SPA, it proposed to acquire from Vendors entire issued and paid-up share capital of Gold Impact Limited and dispose of entire interests in existing subsidiaries, associated companies, affiliated companies and businesses to Huang.Says on May. 12 and Sept. 30, 2013, announces that the Wujiang Economic and Technological Development Zone (PRC Authority) has expressed intention to compulsorily acquire land on which factory and office premises of wholly-owned subsidiary, Europtronic (Suzhou) Co., Ltd (Europtronic Suzhou).Says are erected for urban planning by the PRC Authority (compulsory acquisition).Informs to shareholders that as compulsory acquisition affects terms of SPA; and in view that negotiations of compulsory acquisition between Europtronic Suzhou and the PRC Authority have not been finalised.Company, the Vendors and Huang do not have any opportunity or any basis to revise the commercial terms of proposed transactions before or as at long stop date, being the date falling twelve months from date of SPA.  Full Article

Europtronic Group Ltd updates on dispute relating to WE Components Pte. Ltd. and WE Components Co. Ltd.
Friday, 18 Jul 2014 05:31am EDT 

Europtronic Group Ltd:Refers to the announcement made earlier, in relation to the dispute commenced by WE Components Pte. Ltd (WCPL) and WE Components Co. Ltd (WCCL) (collectively, the Plaintiffs) against the subsidiary company.Says the subsidiary company maintained its position that it had provided the necessary accounts as to monies which were due to the Plaintiffs prior to the commencement of the dispute.Following payment by the subsidiary company to the Plaintiffs, the lawyers representing the Plaintiffs had on July 15 sought and obtained leave from the Court to withdraw the Dispute in the Court.Says there was no order as to costs made against the Subsidiary Company.  Full Article

Europtronic Group Ltd updates on proposed sale of entire issued and paid-up share capital of Europtronic (singapore) Pte Ltd
Tuesday, 4 Feb 2014 05:31am EST 

Europtronic Group Ltd:Refers to its announcements dated Sept. 13, 2013 and Sept. 23, 2013 in relation to the proposed sale of the entire issued and paid-up share capital of Europtronic (Singapore) Pte Ltd (ESPL) to WE Holdings Ltd at a consideration of S$6,820,000.Says it had on Feb. 4 entered into a termination agreement of the same date with the purchaser and the existing ESPL Directors.Says pursuant to which the company, the purchaser and the existing ESPL Directors had mutually agreed to terminate the sale and purchase agreement dated Sept. 12, 2013 with immediate effect.Says the company, the purchaser and the existing ESPL Directors have decided to terminate the Sale and Purchase Agreement as it remains uncertain as to whether all the conditions precedent under the Sale and Purchase Agreement could be fulfilled.Says the company, the Purchaser and the Existing ESPL Directors have decided not to proceed with the Sale.  Full Article

Europtronic Group Ltd Does Not Declare Dividend
Tuesday, 12 Nov 2013 04:09am EST 

Europtronic Group Ltd announced that no dividend has been recommended by the Directors for the third quarter ended September 30, 2013.  Full Article

Europtronic Group Ltd Receives Notice Of Intention To Acquire Factory And Office Premises Of Europtronic (suzhou) Co., Ltd From Wujiang Economic and Technological Development Zone
Monday, 30 Sep 2013 06:27am EDT 

Europtronic Group Ltd announced that its wholly owned subsidiary, Europtronic (Suzhou) Co., Ltd had received a formal notice from Wujiang Economic and Technological Development Zone expressing its intention to acquire the factory and office premises of Europtronic Suzhou located at No. 1618 Yundongdadao, Wujiang Economic and Technological Development Zone, Suzhou, Jiangsu Province, PRC 215200 for urban planning by the PRC Authority. Following the receipt of the Notice, Europtronic Suzhou and the PRC Authority shall negotiate the terms of the Compulsory Acquisition by the PRC Authority of the Premises including and not limited to the amount of the compensation to be received by Europtronic Suzhou. The Company will also make plans to source for an alternative site in preparation for the relocation of its operations.  Full Article

Europtronic Group Ltd Updates On Proposed Sale Of Entire Issued And Paid-up Share Capital Of Europtronic (Singapore) Pte Ltd
Monday, 23 Sep 2013 05:19am EDT 

Europtronic Group Ltd referred to its announcement dated September 13, 2013 in relation to the proposed sale of the entire issued and paid-up share capital of Europtronic (Singapore) Pte Ltd to WE Holdings Ltd at a consideration of SGD6,820,000. The Company had submitted an application to the Singapore Exchange Securities Trading Limited for the purpose of seeking a ruling as to whether the Sale is to be subject to the approval of the shareholders of the Company. The Company had, on September 20, 2013, received a response from the SGX-ST. The SGX-ST has ruled that the Sale will have to be subject to shareholders’ prior approval. Accordingly, the Company will be seeking the approval of its shareholders for the Sale at an extraordinary general meeting to be convened and a circular containing, inter alia, information relating to the Sale and the notice of extraordinary general meeting will be despatched to shareholders in due course.  Full Article

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