LHN (01730) announced that the company dates are February 10, 2023 and February 9, 2024...
Zhitong Financial App News, LHN (01730) issued an announcement. As disclosed in the company's announcements dated February 10, 2023 and February 9, 2024, Coliwoo (TK) Pte. Ltd. (target company) (an indirect wholly-owned subsidiary of the company) is currently in the process of acquiring a property (the property) through public tender. The acquisition is expected to close on May 9, 2024.
On April 22, 2024, the company's indirect wholly-owned subsidiary Coliwoo Holdings Pte. Ltd. (Coliwoo Holdings) and Macritchie Developments Pte. Ltd. (the buyer) entered into a sale agreement under which Coliwoo Holdings was to sell and the buyer was required to purchase 20,000 shares of the target company (20% of its total issued share capital) at a cost of SGD 20,000 (sale). This price is based on the face value of the target company's shares, taking into account the target company's negative book value as of March 31, 2024. After the sale is completed on the same day, the target company will be owned by Coliwoo Holdings and 20% respectively, and the target company will remain a subsidiary of the company.
The buyer is a limited liability company incorporated in Singapore, engaged in real estate development business and is related to Jadeite Properties Pte for the Group. Joint venture partner of Ltd. (a company with 50% indirect ownership by the company).