Key Points Investors Must Know
- Completion of JTC Approval: Mooreast Holdings Ltd. has announced that its wholly-owned subsidiary, Mooreast Asia Pte. Ltd., and Seatrium New Energy Limited (the Vendor) have successfully fulfilled their respective obligations regarding the acquisition of the property at 60 Shipyard Crescent, Singapore 627735.
- Requisite JTC Confirmation Obtained: Both parties have received the necessary JTC Approval and JTC Confirmation, in accordance with the terms outlined in the Option to Purchase (OTP) agreement.
- Acquisition Scope: The acquisition includes not only the property but also all existing plant, equipment, and machineries located on the site.
- Completion Date Set: The completion of the OTP is scheduled for 11 March 2026.
- Timeline Recap: The process began with the Purchaser’s acceptance of the Vendor’s offer on 10 June 2024, followed by several announcements and the fulfillment of conditions leading up to the JTC approvals on 24 February 2026.
Important Information for Shareholders
- Potential Impact on Share Price: The acquisition of a significant industrial property, together with its operational assets, may have a material impact on the Company’s future operations, financial performance, and asset base. This event could influence investor sentiment and potentially move Mooreast Holdings’ share price.
- Regulatory Compliance: The transaction has met all regulatory requirements, notably those imposed by JTC, which is critical for the validity and completion of industrial property acquisitions in Singapore.
- Shareholder Guidance: Shareholders are advised to refrain from taking any action regarding their securities that may be prejudicial to their interests until further announcements are made. Caution is also advised when dealing in the Company’s securities.
- Professional Advice Recommended: In case of any uncertainty, shareholders should consult their stockbrokers, bank managers, solicitors, accountants, or other professional advisors.
Further Details
The Board of Directors, led by CEO Eirik Ellingsen, highlighted the fulfillment of all conditions precedent as outlined in Clauses 8(a)(i) and (ii) of the OTP. This milestone paves the way for the formal completion of the property acquisition on 11 March 2026. The property and its associated assets are expected to enhance Mooreast Holdings’ operational capabilities and asset portfolio.
This announcement has been reviewed by the Company’s sponsor, UOB Kay Hian Private Limited, but has not been examined or approved by the Singapore Exchange Securities Trading Limited (SGX-ST). The SGX-ST assumes no responsibility for the contents of the announcement.
The designated contact person for the Sponsor is Mr Lance Tan, Senior Vice President, based at UE Square, Singapore.
Potential Market Impact
The successful acquisition and imminent completion may be viewed as a positive development for Mooreast Holdings Ltd., potentially increasing its asset base and operational capacity. Investors should monitor subsequent announcements for further details regarding the integration and expected financial impact of the acquired property and assets.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should independently evaluate the information and consult their own professional advisors before making any investment decisions. The information provided is based on the Company’s official announcements and is subject to further updates and clarifications.
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