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PR Newswire
05-09-2019, 11:07 PM
https://links.sgx.com/1.0.0/corporate-an...0final.pdf
The board of directors ("Board") of the Company (and together with its subsidiaries, the
"Group") wishes to announce that the Company has today entered into a conditional sale and
purchase agreement (“SPA”) with Mr. Masdjan (“Masdjan”, or the “Purchaser”), an Executive
Director and Chief Operating Officer of the Group, pursuant to which the Company has agreed
to sell, and the Purchaser has agreed to acquire the entire issued and paid up share capital of
Trans LK Marine Pte. Ltd. (“TLM”), which comprises the Business (as defined below) as a
going concern and all the TLM Business Assets (as defined below) for an aggregate
consideration of US$32,160,000 (“Consideration”), upon the terms and subject to the
conditions of the SPA (“Proposed Disposal”). Masdjan is also a substantial shareholder of the
Company
The board of directors ("Board") of the Company (and together with its subsidiaries, the
"Group") wishes to announce that the Company has today entered into a conditional sale and
purchase agreement (“SPA”) with Mr. Masdjan (“Masdjan”, or the “Purchaser”), an Executive
Director and Chief Operating Officer of the Group, pursuant to which the Company has agreed
to sell, and the Purchaser has agreed to acquire the entire issued and paid up share capital of
Trans LK Marine Pte. Ltd. (“TLM”), which comprises the Business (as defined below) as a
going concern and all the TLM Business Assets (as defined below) for an aggregate
consideration of US$32,160,000 (“Consideration”), upon the terms and subject to the
conditions of the SPA (“Proposed Disposal”). Masdjan is also a substantial shareholder of the
Company