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Hanwell Holdings Ltd Proposes Disposal Of Shareholding Interest In Intraco Limited To TH Investments Pte. Ltd.

Thursday, 13 Sep 2012 04:49am EDT 

Hanwell Holdings Ltd announced that the Company has entered into a sale and purchase agreement (the “Agreement”) dated September 13, 2012 with TH Investments Pte. Ltd. (the “Purchaser”) to transfer 29,486,148 ordinary shares and representing approximately 29.87% shareholding interest in the issued share capital (the “Sale Shares”) of Intraco Limited (“Intraco”) to the Purchaser (the “Disposal”). The Company shall transfer the Sale Shares to the Purchaser at the price of SGD0.65 per Sale Share for an aggregate consideration of approximately SGD19,165,996.20 (the “Purchase Consideration”). The price of SGD0.65 per Sale Share is higher than the original purchase price per share at which the Company had purchased the Sale Shares. The Company had originally purchased the Sale Shares at a price of $0.62 per share for an aggregate amount of approximately SGD18,281,412. It is the intention of the Directors to deploy the proceeds from the Disposal to expand the core businesses of the Company and to fund working capital. 

Company Quote

-0.0050 -1.75%
22 Aug 2014