Asset Acquisitions and Disposals::PROPOSED ACQUISITION OF 113,201 ORDINARY SHARES IN HEAT TECH JAPAN CO., LTD.
Issuer & Securities
DRAGON GROUP INTL LIMITED
DRAGON GROUP INTL LIMITED - SG2C50963991 - MT1
Asset Acquisitions and Disposals
Date &Time of Broadcast
Announcement Sub Title
PROPOSED ACQUISITION OF 113,201 ORDINARY SHARES IN HEAT TECH JAPAN CO., LTD.
Submitted By (Co./ Ind. Name)
DATO' MICHAEL LOH SOON GNEE
EXECUTIVE CHAIRMAN & CEO
Description (Please provide a detailed description of the event in the box below)
The board of directors of Dragon Group International Limited wishes to announce that the Company had on 5 January 2015 entered into a conditional sale and purchase agreement with Green Power Ventures Limited for the proposed acquisition by the Company of 113,201 issued and paid up ordinary shares in the share capital of Heat Tech Japan Co., Ltd, which comprises approximately 30% of HTJ's total issued and paid up share capital, for a consideration sum of S$6,000,000, of which S$2,000,000 shall be paid in cash and another 40,000,000 Company shares shall be issued at S$0.10 per Consideration Share.
Total size =200K