Asset Acquisitions and Disposals::PROPOSED ACQUISITION OF ISSUED AND PAID UP ORDINARY SHARES HEAT TECH JAPAN CO LTD. - WAIVER

Issuer & Securities

Issuer/ Manager
DRAGON GROUP INTL LIMITED
Securities
DRAGON GROUP INTL LIMITED - SG2C50963991 - MT1
Stapled Security
No

Announcement Details

Announcement Title
Asset Acquisitions and Disposals
Date &Time of Broadcast
21-Oct-2016 17:28:54
Status
New
Announcement Sub Title
PROPOSED ACQUISITION OF ISSUED AND PAID UP ORDINARY SHARES HEAT TECH JAPAN CO LTD. - WAIVER
Announcement Reference
SG161021OTHRWG4G
Submitted By (Co./ Ind. Name)
DATO MICHAEL LOH SOON GNEE
Designation
EXECUTIVE CHAIRMAN & CEO
Description (Please provide a detailed description of the event in the box below)
1. INTRODUCTION

The board of directors (the Board) of Dragon Group International Limited (the Company and together with its subsidiaries, collectively the Group) refers to the announcements made by the Company on 5 January 2015, 17 October 2015 and 23 October 2015 (the Announcements) in relation to the Proposed Acquisition. Capitalised terms not defined herein shall bear the same meaning ascribed to them in the Announcements.

2. WAIVER OF RIGHT UNDER AMENDED SPA

2.1 As set out in the announcement made by the Company on 23 October 2015, the Company will be submitting an additional listing application to the SGX-ST for the listing and quotation of the Consideration Shares to be issued to Green Power Ventures Limited (the Vendor).

2.2 The Board wishes to update that the Company and the Vendor have mutually agreed to waive the issue and quotation of the Consideration Shares to be issued to the Vendor.

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