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IPCO International Ltd Announces Acquisition Of Additional 45% Of Equity Interest In Sino Gas Holdings Pte. Ltd From Innopac Holdings Ltd


Wednesday, 28 Aug 2013 06:03am EDT 

IPCO International Ltd announced that the Company has entered into a share purchase agreement (the Agreement) with Innopac Holdings Ltd (Innopac), a company listed in the main board of the Singapore Exchange Securities Trading Limited, to acquire an additional 45% equity in the share capital of Sino Gas Holdings Pte. Ltd. (Sino Gas) which comprises 4,500 issued ordinary shares (Sale Shares), a company incorporated in Singapore, for a cash consideration of SGD4,500.00. The Acquisition was completed on August 28, 2013. Sino Gas has an issued and paid-up share capital of SGD10,000.00 divided into 10,000 shares of SGD1.00 each. Its principal activity is investment in natural gas or natural gas related projects in the Peoples Republic of China, particularly in Shandong province. Sino Gas has not commenced operations. Prior to the Acquisition, the Company held 45% of the issued and paid-up share capital in Sino Gas. Following the Acquisition, Sino Gas became a subsidiary of the Company, the balance 10% of the share capital is owned by Mr. Su Xuan, a Chinese businessman. The Acquisition was funded through the Companys internal resources. 

Company Quote

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24 Oct 2014