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Europtronic Group Ltd updates on proposed sale of entire issued and paid-up share capital of Europtronic (singapore) Pte Ltd


Tuesday, 4 Feb 2014 05:31am EST 

Europtronic Group Ltd:Refers to its announcements dated Sept. 13, 2013 and Sept. 23, 2013 in relation to the proposed sale of the entire issued and paid-up share capital of Europtronic (Singapore) Pte Ltd (ESPL) to WE Holdings Ltd at a consideration of S$6,820,000.Says it had on Feb. 4 entered into a termination agreement of the same date with the purchaser and the existing ESPL Directors.Says pursuant to which the company, the purchaser and the existing ESPL Directors had mutually agreed to terminate the sale and purchase agreement dated Sept. 12, 2013 with immediate effect.Says the company, the purchaser and the existing ESPL Directors have decided to terminate the Sale and Purchase Agreement as it remains uncertain as to whether all the conditions precedent under the Sale and Purchase Agreement could be fulfilled.Says the company, the Purchaser and the Existing ESPL Directors have decided not to proceed with the Sale. 

Company Quote

0.015
-0.0010 -6.25%
25 Jul 2014