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See Hup Seng Ltd Announces Completion Of Acquisition Of Entire Issued And Paid-Up Share Capital Of Axxmo International Pte Ltd


Wednesday, 5 Dec 2012 04:13am EST 

See Hup Seng Ltd announced that with reference to its announcement dated November 07, 2012 in relation to the acquisition by the Company from Lee Ah Nak and Tan Tooh Meng @ Tan Toh Meng (collectively, the Vendors) of the entire issued and paidup share capital of Axxmo International Pte Ltd (Axxmo) at a cash consideration of SGD1,309,000 (the Purchase Consideration) (the Acquisition). Under the terms of the conditional sale and purchase agreement dated November 07, 2012 entered into between the Company and the Vendors, the Purchase Consideration may be adjusted based on the Company’s findings on Axxmo following completion of its financial due diligence on Axxmo (the “Financial Findings”). Based on the Financial Findings, no adjustment shall be made to the Purchase Consideration. The Company now announced that completion of the Acquisition has taken place on December 05, 2012. Following completion of the Acquisition, Axxmo has become a wholly owned subsidiary of the Company. 

Company Quote

0.295
-0.0050 -1.67%
18 Sep 2014