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SGX:9I7

5 stories mentioning SGX:9I7Updated just now

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Asia

Bromat Holdings to Raise Nearly SG$3 Million Via Placement

Bromat Holdings (SGX:9I7) entered into a binding conditional term sheet to place around 32.9 million new shares to Jiaxing Aoze Investment Partnership at SG$0.085 apiece, raising gross proceeds of about SG$2.8 million, according to a Thursday filing with the Singapore Exchange.The food and beverage group intends to use 60% of the net proceeds for business expansion and the remaining 40% for general working capital needs.The investor will acquire a stake of around 6.77% in the placement, the filing said.

SGX:9I7
Asia

Bromat Holdings' Mandatory Offer Closes

The mandatory unconditional cash offer by controlling shareholder and non-executive director Frank Liu Tao for Bromat Holdings Ltd. (SGX:9I7) officially concluded on July 8, according to a Wednesday bourse filing.The offeror pulled in valid acceptances for 2,879,036 ordinary shares, which make up roughly 0.64% of the food and beverage company's total issued share capitalPrior to launching the unconditional takeover bid, Frank Liu Tao already controlled 365,742,469 shares, representing an 80.69% stake in the group. The finalized tenders lift his total combined equity slice to 368,621,505 shares, establishing an 81.33% majority ownership.

SGX:9I7
Asia

Bromat Holdings Appoints Independent Financial Adviser for Cash Offer

Bromat Holdings (SGX:9I7) has appointed Novus Corporate Finance as the independent financial adviser for the mandatory unconditional cash offer by its non-executive director, Frank Liu Tao, according to a Tuesday filing to the Singapore stock exchange.Last month, Tao reached a global settlement agreement with Valiant Investments and Michael Koh Tat Lee, triggering a mandatory unconditional cash takeover offer for all remaining shares of the company.Under the terms of the corporate transaction, the director will extend an offer of SG$0.031 per share in cash, taking his stake in the company to 80.69%.

SGX:9I7
Asia

Bromat Unit to Acquire Shanghai Jinbaozheng Business Consulting; Shares Down 3%

Bromat's (SGX:9I7) subsidiary, NSB-IP, agreed to acquire a 100% stake in Shanghai Jinbaozheng Business Consulting from Gao Sheng (HK) International for 5 yuan, according to a Thursday filing with the Singapore Exchange.Shanghai Jinbaozheng Business Consulting owns a 100% stake in Shanghai Xinzhaopai Catering Management.The acquisition is part of the company's strategy to pursue viable business opportunities in China.Shares of the manager of food and beverages operator in Singapore were down over 3% in Thursday trading.

SGX:9I7
Asia

Bromat Executive Reaches Global Settlement Agreement with Valiant Investments

Bromat Holdings (SGX:9I7) non-executive director, Frank Liu Tao, has reached a global settlement agreement with Valiant Investments and Michael Koh Tat Lee, triggering a mandatory unconditional cash takeover offer for all remaining shares of the company.Under the terms of the corporate transaction, the director will extend an offer of SG$0.031 per share in cash, taking his stake in the company to 80.69%.The settlement was concluded via a conversion of debt into equity, resolving previous loans and advances valued at nearly SG$7 million extended to Valiant. In return, Valiant transferred approximately 365.7 million ordinary shares to Tao.The offeror intends to preserve the food and beverage restaurant operator's listing status on the board and does not plan to introduce any major changes to the company's existing business operations or core assets.

SGX:9I7

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