General Announcement::Strategic Collaboration with Global Alliance Property Pte. Ltd.
Issuer & Securities
Issuer/ Manager
PROPNEX LIMITED
Securities
PROPNEX LIMITED - SGXE65086469 - OYY
Stapled Security
No
Announcement Details
Announcement Title
General Announcement
Date &Time of Broadcast
20-Feb-2019 18:43:29
Status
New
Announcement Sub Title
Strategic Collaboration with Global Alliance Property Pte. Ltd.
Announcement Reference
SG190220OTHRB84J
Submitted By (Co./ Ind. Name)
Mohamed Ismail s/o Abdul Gafoore
Designation
Executive Chairman and CEO
Description (Please provide a detailed description of the event in the box below)
The Board of Directors (the "Board") of PropNex Limited (the "Company") wishes to announce that a wholly owned subsidiary of the Company, PropNex Realty Pte. Ltd. ("PropNex Realty") has entered into a Collaboration Agreement with Global Alliance Property Pte. Ltd. ("GAP") whereby GAP will discontinue its real estate agency business and the sales agents of GAP will thereafter have the option to operate under PropNex Realty.
Save for their shareholdings in the Company, none of the directors or substantial shareholders of the Company has any interest, direct or indirect, in the strategic collaboration.
Please refer to the attached press statement dated 20 February 2019 for further details of the strategic collaboration.
UOB Kay Hian Private Limited is the sole issue manager of the initial public offering and listing of PropNex Limited. UOB Kay Hian Private Limited assumes no responsibility for the contents of this announcement.
By Order of the Board
Ismail Gafoore
Executive Chairman and CEO
20 February 2019
Attachments
PropNex Press Release - Strategic Collaboration-20.2.19.pdf
Total size =218K
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