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Rowsley Ltd Proposes Acquisition Of RSP Architects Planners & Engineers (Pte) Ltd, Vacant Land And Bonus Issue


Friday, 21 Dec 2012 02:03am EST 

Rowsley Ltd announced that it has entered into a non-binding term sheet with Messrs Albert Hong Hin Kay, Lee Kut Cheung, Lai Huen Poh, Liu Thai Ker and Hud Abu Bakar in relation to the proposed acquisition by the Company and/or wholly owned subsidiary of the entire issued and paid-up share capital of RSP Architects Planners & Engineers (Pte) Ltd (RSP) for a consideration of up to SGD223 million to be satisfied by way of allotment and issuance of ordinary shares in the capital of the Company at an issue price of SGD0.150 per Share. the Company has entered into another non-binding term sheet with Vantage Bay Sdn Bhd in relation to the proposed acquisition by the Company and/or wholly owned subsidiary of parcels of vacant land located within the Iskandar development region, Johor Bahru, Malaysia, measuring approximately 9.23 hectares, for a consideration of SGD358 million to be satisfied by way of allotment and issuance of Shares at an issue price of SGD0.150 per Share. the Company is proposing, a bonus issue of up to 1,978,602,530 warrants, each Warrant carrying the right to subscribe for one new ordinary share in the capital of the Company at an exercise price of SGD0.180 for each New Share, to be issued to the Company‚Äôs existing shareholders for free on the basis of two Warrants for every one existing Share held as at a books closure date to be determined by the Directors. 

Company Quote

0.235
0.0050 +2.17%
30 Jul 2014