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29-01-2016, 08:11 PM
(This post was last modified: 29-01-2016, 09:19 PM by cyclone.)
Call it a day ? If the transaction is completed, the company will become a cash company. Correct me if I'm wrong.
Disposal of shares in Smartflex Technology Pte Ltd and Smartflex Innovation Pte Ltd
The Board of Directors of Smartflex Holdings Ltd wishes to announce that it has entered into a non-binding term sheet with Novo Tellus PE Fund 1,L.P. and/or its affiliates in respect of the disposal of the entire issued share capital of Smartflex Technology Pte Ltd ("SFT") and Smartflex Innovation Pte Ltd ("SFI") held by the Company, for a cash consideration of up to S$26,080,000, subject to the entry into a sale and purchase agreement.
The Purchaser is a fund advised by Novo Tellus Capital Partners Pte. Ltd. ("Novo Tellus"). The principal activity of Novo Tellus is to provide fund advisory services.
If the transaction is completed :
Number of shares : 126,440,002
Cash proceeds per share = S$26,080,000/126,440,002 about S$0.206
NAV per share at company level as at 30 Jun 2015 = US$ 10.29 cents about S$0.146
Investment in subsidiary and joint venture = US$8,292,000 about S$0.093
NAV per share after completion = S$0.206 + S$0.146 - S$0.093 = S$0.259
Last transacted price = S$0.26
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Hmm. The business has been sold. Based on today's price (0.20), it would be a net cash company? But I am not sure of the company's plans, which would be a clear risk.
You can count on the greed of man for the next recession to happen.
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Request for Trading Halt : Pending release of material announcement.
Reverse Takeover ?
Specuvestor: Asset - Business - Structure.
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Proposed Acquisition of the Entire Issued Share Capital of Asia Vets Holdings Pte. Ltd.
Smartflex Holdings Ltd. announced that it has on 8 September 2017 entered into a conditional sale and purchase agreement (the “SPA”) with Hu Zhi Investments Limited (Hong Kong Company Registration No. 2317621) (formerly known as Tiger Equities Consulting Limited) (the “Vendor”) and David Wendyl Karl Jenkins (the “Warrantor”) in respect of the acquisition by the Company of the entire issued share capital of Asia Vets Holdings Pte. Ltd. (Company Registration No. 201627905C) for a purchase consideration of S$9,750,000, upon the terms of and subject to the conditions of the SPA.
More details in
http://infopub.sgx.com/FileOpen/Smartfle...eID=470310
Specuvestor: Asset - Business - Structure.