Asia-Pacific Strategic Investments (APS)

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#1
The Business Times
Published April 18, 2012
APS in $568m RTO deal with Bright Eagle

By Lee U-wen

BEREAVEMENT care services provider Asia-Pacific Strategic Investments Ltd (APS) has struck a $568 million conditional sale-and- purchase agreement with Bright Eagle Enterprises Group, an engineering solutions provider in the power generation industry.

The proposed deal, should it be completed, will result in a reverse takeover (RTO) of APS by Bright Eagle, a company incorporated in the British Virgin Islands.

APS stands to gain full ownership of two joint development agreements secured by Bright Eagle. These involve the conversion of up to seven fuel oil-based generation units into coal-based power generators in Pakistan.

In a statement yesterday, APS said it would pay $275.3 million through $20 million in cash, 474.7 million new shares issued at 40 cents each, 234.6 million unlisted warrants issued at two cents, and its entire bereavement business.

The issue price of 40 cents each for the new shares is equivalent to the last traded price of APS, while each unlisted warrant may be exchanged for a new APS share at an exercise price of $1.50 until the May 16, 2014 expiry date.

The cost of $292.7 million for the second and third stages of the joint development agreements will be financed through the issue of 731.8 million new APS shares.

Subject to approval by the Singapore Exchange, a circular containing details of the proposed S&P agreement will be dispatched to APS shareholders, who will vote at an extraordinary general meeting to be convened at a later date.

As Bright Eagle intends to maintain the public listing status of APS and will own more than 80 per cent of the enlarged issued share capital after the completion of all three stages, shareholders will also be asked to vote in favour of a "whitewash waiver" to absolve Bright Eagle from having to make a general offer for the remaining shares in APS.

Commenting on APS's new proposed business direction, its group chief executive officer Choo Yeow Ming said: "This business has excellent prospects in Asia, where we see many opportunities to convert both new and existing fuel oil-based power generating units so they can run on coal, which is a cheaper alternative."

According to Bloomberg data, APS shares last closed at 40 cents on April 4. The company has requested that its trading halt be lifted at 8.30am today.
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#2
http://www.businesstimes.com.sg/premium/...s-20140611

PUBLISHED JUNE 11, 2014
APS to be used as vehicle to acquire mines

Company says it is now conducting due diligence exercise on reverse takeover
BYANDREA SOH
sandrea@sph.com.sg @AndreaSohBT

Mr Richmond: 'We intend to use the listco for further acquisitions of gold and silver mines in Armenia and expand in other parts of the world.'
ASIA-PACIFIC Strategic Investments (APS), which is turning from a funeral-services provider into an Armenian gold miner through a reverse takeover, will be used as a vehicle to acquire more mines, said one of its future major shareholders, George Richmond.
He told reporters over the phone in a briefing yesterday: "We intend to use the listco for further acquisitions of gold and silver mines in Armenia and expand in other parts of the world."
The firm will also tap the capital markets for future fund-raising exercises, he added.
Mr Richmond, a businessman and investor in the mining sector, holds a 49 per cent stake in GR Business Holdings, which is selling its full stake in Coeur Gold Armenia to APS for $500 million.
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#3
http://www.businesstimes.com.sg/companie...l-extended

Completion of APS RTO deal extended
By
Anita Gabrielanitag@sph.com.sg@AnitaGabrielBT
28 Oct5:50 AM
Singapore

TRADERS balked at the uncertainty of Asia-Pacific Strategic Investments' reverse takeover deal involving miner Coeur Gold Armenia after the firm said - for the second time - that the deal needed more time to be sealed.

APS shares lost 0.9 Singapore cent, or just over 15
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#4
Latest update on the company. The key word is "Oei Hong Leong" Tongue

(not vested)

Asia-Pacific Strategic Investments in RTO of China-based property group and placement deal with Oei Hong Leong

SINGAPORE (Jan 14): Asia-Pacific Strategic Investments ( Valuation: 0.90, Fundamental: 1.25) is acquiring a 100% stake in a China-based investments manager cum property developer for RMB150 million ($33 million).

The proposed acquisition will result in a reverse takeover of APSI.

To help finance the deal, APSI announced in a separate filing it has agreed to place out 2.6 billion new APSI shares at $0.0054 each to Oei Hong Leong to raise $14.2 million. APSI shares last traded at $0.006.

Both the RTO and private placement deals will require the approval of shareholders
...
http://www.theedgemarkets.com/sg/article...t-deal-oei
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