Sinobest Technology Holdings Ltd: Business description, financial summary, 3yr and interim financials, key statistics/ratios and historical ratio analysis.
Provider: Reuters Investment Profile
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Sinobest Technology Holdings Ltd Updates On Proposed Acquisition Of Okh Holdings Pte. Ltd
Sinobest Technology Holdings Ltd announced that the Company had, on January 20, 2012, entered into a supplemental agreement to vary the Purchase Consideration as set out in Clause 2.3 of the Conditional Sale and Purchase Agreement (SPA) dated July 4, 2011, as follows The Purchase Consideration for the Sale Shares payable by the Purchaser shall be a sum calculated based on 7.8 times of the consolidated profit after tax of OKH achieved for its financial year ended June 30, 2011 as ascertained from the relevant audited consolidated financial statements of OKH, which shall be fully satisfied by Completion by the issue and allotment to the Vendor (as he may direct) of the Consideration Shares (fractional entitlement disregarded), such Consideration Shares to be credited as fully paid and free from all encumbrances and ranking pari passu in all respects with the ordinary shares in the capital of the Purchaser existing as at the Completion Date. Based on the audited consolidated profit after tax of OKH which is SGD15,051,969 for the financial year ended June 30, 2011, the number of Consideration Shares to be issued by the Purchaser shall be 978,377,985.
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