February 28, 2014 / 1:00 AM / 4 years ago

REFILE-SINGAPORE PRESS-LifeBrandz plans reverse takeover-Business Times

(Refiles to remove extraneous word in headline) LifeBrandz Ltd is hoping to undergo a reverse takeover that would turn it into a hospitality developer, Business Times daily reported.

The loss-making company signed a memorandum of understanding (MOU) with shareholders of Acteam International Co Ltd and 122 Middle Investment Pte Ltd to acquire their stakes, payable in cash and new share issue at an indicative price of S$1.2 cents each. (link.reuters.com/zad37v)

NOTE: Reuters has not verified this story and does not vouch for its accuracy. (Compiled by Singapore Newsroom; Editing by Supriya Kurane)

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