Analyst Research

Report Title Price
Provider: Thomson Reuters Stock Report
$25.00
Provider: Reuters Investment Profile
$20.00
Provider: GlobalData
$250.00

NYSE and AMEX quotes delayed by at least 20 minutes. NASDAQ delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

Technics Oil & Gas Ltd's V Offshore Engineering Pte. Ltd Enters Into Non-Binding Memorandum Of Understanding With Goh Choon Huat, Koa Wee Boon, Senavannaido Duruvasai And Koa Susie


Monday, 11 Nov 2013 05:07am EST 

Technics Oil & Gas Ltd announced that the Company‚Äôs subsidiary V Offshore Engineering Pte. Ltd. (VOE) has entered into a non-binding memorandum of understanding (MOU) with Goh Choon Huat, Koa Wee Boon, Senavannaido Duruvasai and Koa Susie (collectively the Vendors and each a Vendor) in relation to a proposed acquisition of 74% of the entire issued and paid-up capital of Vigahs Marine Technologies Pte. Ltd. (Target Company) by VOE (Proposed Acquisition). Based on the information available to the Company, the Target Company is a company incorporated in Singapore and is in business of repairing and building of ships, tankers and other ocean-going vessels (Target Business). Pursuant to the MOU, the Vendors will transfer 74% of the total issued share capital in the Target Company to VOE at a maximum aggregate consideration of SGD5,299,880 (Purchase Consideration). The Company intends to grow the Target Business, including repairing and building of ships, tankers and other ocean-going vessels with the Vendors. The completion of the Proposed Acquisition are subject to, inter alia: the completion of the DD Investigations; and VOE being satisfied in its reasonable discretion that there has been no material adverse change or events, acts or omissions likely to lead to such a change in the business, assets, prospects, performance, financial position or results of operations of the Target Company after the date of the MOU. 

Company Quote

0.84
-0.0050 -0.59%
22 Jul 2014