Sincap Group proposes acquisition of LTN Land for $38.5m
It has 3 months to finalize the deal.
Catalist-listed Sincap Group today unveiled its plans to acquire LTN land, an investment holding company incorporated in Singapore.
The Company has entered into a term sheet (“Term Sheet”) dated 11 August 2014 with Ng Hong Whee, Lim Chuan Lam, Hartajia Limited, Kairos 300 Resources Limited and Wang Fang for the proposed acquisition of all issued shares in the capital of LTN Land.
The Proposed Acquisition, if undertaken and completed, may constitute a “major transaction” which requires immediate announcement under Chapter 10 of the Listing Manual Section B: Rules of Catalist of the SGX.