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Koon Holdings Ltd Enters Into Sale And Purchase Agreement With JKM Engineers Pte Ltd


Friday, 21 Dec 2012 04:05am EST 

Koon Holdings Ltd announced that the Company has entered into a sale and purchase agreement dated December 21, 2012 (the SPA) with JKM Engineers Pte Ltd. (JKM). The SPA relates to the Company’s purchase from JKM of 500,025 ordinary shares (the Sale Shares) in the capital of Econ Precast Pte Ltd. (EPPL) (constituting 25% of the issued and paid up share capital of EPPL) for a consideration of SGP 5.5 million in cash. The completion of the sale and purchase of the Sale Shares will take place on January 2, 2013. Consequently, EPPL will from January 2, 2013 be a wholly owned subsidiary of the Company as the Company now holds 100% of the issued and paid up share capital of EPPL. The Company’s additional investment in EPPL will be funded through the Company’s internal resources and is not expected to have any material impact on the earnings per share and/or net tangible assets per share of the Company for the financial year ending December 31, 2013. 

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23 Sep 2014