Union Steel sells 30M Eneco shares for $345,000

Done through a married deal, the transaction was priced at $0.0115 per share.

Union Steel Holdings Limited has sold its 30 million ordinary shares in Eneco Energy Limited to individual investor Lim Kiao Bee for $345,000.

The transaction, done through a married deal, was priced at $0.0115 per share and was negotiated and agreed on a willing-buyer and willing-seller basis.

This represents approximately 1.21% of the total issued and paid-up share capital of Eneco Energy.

The company will in effect hold 451 million ordinary shares in Eneco Energy, representing approximately 18.09% of the total issued and paid-up share capital of Eneco Energy, and 500 million warrants in Eneco Energy.

Each warrant in Eneco Energy held by the company carries the right to subscribe for one new ordinary share in Eneco Energy at an exercise price of S$0.009 per warrant.

The warrants have an expiry date of 31 August 2025.

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