Salt Investments buys 60% stake in TT Oil for $6m

The issue price per purchase consideration share is at $0.0035.

Salt Investments Limited entered into a share purchase agreement with Hong Kong investment company Poly Million to buy 150,000 shares—reflecting a 60% stake in TT Oil for $6m.

The issue price per purchase consideration share is at $0.0035, approximately a 16.7% premium to the volume-weighted average price for trades.

TT Oil is a Singapore-incorporated company whose core business includes the wholesale supply of fuels and related products, focusing on marine lubricants.

Currently, TT Oil has an issued and paid-up share capital of $250,000 comprising 250,000 ordinary shares, which are 98% legally and beneficially owned by Poly Million.

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