Union Steel Holdings Limited: Exercise of Option to Purchase and Proposed Disposal of Investment Property

Key Highlights

• Disposal of Investment Property: Union Steel Holdings Limited’s wholly-owned subsidiary, Hock Ann Metal Scaffolding Pte Ltd, has entered into a binding agreement to dispose of its investment property at 41 Middle Road #03-00, Singapore 188950, for S\$2,880,000 (exclusive of GST).
• Option to Purchase (OTP): The OTP was granted on 11 July 2026 and validly exercised by the Purchaser, Spike Brothers Pte Ltd (an unrelated third party), on 28 July 2026.
• Estimated Gain on Disposal: The Group expects an estimated gain of S\$820,000 after accounting for the carrying value and transaction expenses.
• Financial Impact: The transaction will strengthen the Group’s net tangible assets and earnings per share. NTA per share is expected to increase from 74.95 cents to 75.64 cents, and EPS from 8.08 cents to 8.73 cents, assuming completion as of 30 June 2025.
• Use of Proceeds: Net proceeds of approximately S\$2,820,000 will be used for general working capital, debt repayment, and/or future business expansion opportunities.
• Shareholder Impact: The disposal is considered a discloseable transaction under Rule 1006 of the SGX Listing Manual as the consideration represents 5.1% of the Company’s market capitalisation.
• Completion Date: The transaction is scheduled to complete on 10 November 2026, subject to satisfaction of legal and regulatory conditions.

Details of the Disposal

The investment property, a 94 sqm strata-titled commercial unit with a 999-year leasehold from 1835, is currently classified as an investment property and not used in the Group’s core operations.

The property’s carrying value stands at approximately S\$2,000,000. The sale consideration of S\$2,880,000 (exclusive of GST) was negotiated on a willing-buyer, willing-seller basis, reflecting prevailing market conditions and comparable transactions.

Transaction Structure

• Option Fee & Deposit: Purchaser paid a 1% option fee (S\$28,800) upon grant of OTP, and an additional 4% (S\$115,200) upon exercise, for a total 5% deposit (S\$144,000).
• Completion Payment: Balance of S\$2,736,000 plus GST to be paid on completion.
• Completion Date: Scheduled for 10 November 2026, or as mutually agreed.
• Conditions: Completion depends on satisfactory legal requisitions and government responses, as well as compliance with the Law Society of Singapore’s Conditions of Sale 2020, except where varied by the OTP.

Financial Effects

The disposal is expected to have a positive impact on the Group’s financial position, with an increase in both NTA and EPS.

Regulatory and Shareholder Considerations

• The transaction, with a relative figure of 5.1% under Rule 1006(c), is classified as a discloseable transaction. No shareholder approval is required, but the transaction is considered material and price-sensitive.
• No directors, substantial shareholders, or their associates have any interest in the transaction.
• The OTP is available for inspection at the Company’s registered office for three months from the announcement date.

Risks and Cautionary Statement

• Completion remains subject to the fulfilment of all OTP terms and regulatory requirements. There is no absolute certainty that the transaction will complete as scheduled.
• Shareholders and investors are advised to monitor further Company announcements and to consult their advisers if in doubt.

Conclusion

This transaction is potentially price-sensitive and may positively affect Union Steel Holdings’ share value, given the gain on disposal, enhancement of financial metrics, and improved capital allocation for future growth.

Disclaimer

This article is for informational purposes only and does not constitute investment advice. Investors should conduct their own due diligence and consult their professional advisers before making any investment decisions. The completion of the disposal is subject to various conditions, and there is no assurance it will be completed as scheduled.

裕能钢铁控股有限公司：有关41 Middle Road投资物业处置的详细公告

主要亮点

• 出售投资物业： 裕能钢铁控股有限公司全资子公司Hock Ann Metal Scaffolding Pte Ltd与Spike Brothers Pte Ltd（一家无关第三方）签署具有约束力的协议，以2,880,000新元（不含GST）出售位于41 Middle Road #03-00, Singapore 188950的投资物业。
• 购房选择权（OTP）： 该选择权于2026年7月11日授予，并于2026年7月28日由买方有效行使。
• 预期处置收益： 集团预计扣除成本和费用后，将获得约82万新元的处置收益。
• 财务影响： 本次交易将提升集团净有形资产及每股收益。假设在2025年6月30日完成，NTA每股将从74.95分增加至75.64分，每股收益从8.08分提升至8.73分。
• 所得款项用途： 约282万新元净收益将用于一般营运资金、偿还贷款和/或未来业务扩展。
• 对股东的影响： 本次处置根据新交所《上市手册》第1006条为须披露交易，因交易对公司市值的影响为5.1%。
• 预计完成日期： 交易预计于2026年11月10日完成，需满足相关法律及监管条件。

交易详情

该物业为94平方米的分层商业单位，拥有自1835年起999年租赁权，目前归类为投资物业，不用于集团主营业务。

物业账面价值约为200万新元。2,880,000新元的成交价（不含GST）是在买卖双方自愿协商下，并参考市场行情及类似交易确定。

交易结构

• 期权费及订金： 买方在授予OTP时支付1%（28,800新元）期权费，行权时再付4%（115,200新元）订金，总计5%（144,000新元）。
• 完成付款： 余款2,736,000新元及GST将在完成时支付。
• 完成日期： 预计为2026年11月10日，或双方书面协定的其他日期。
• 条件： 交易须待法律查询及政府回复满意，与新加坡律师协会2020年售卖条件一致，除非OTP另有约定。

财务影响

本次处置将改善集团的财务状况，净有形资产和每股收益均有所提升。

监管及股东事项

• 该交易以5.1%归类为须披露交易，无需股东批准，但属重大及可能影响股价事项。
• 董事、主要股东及其联系人均无利益冲突。
• OTP正本可于公司注册办事处查阅三个月。

风险与注意事项

• 交易完成须满足所有OTP条款及监管要求，无法保证如期完成。
• 股东和投资者应关注公司进一步公告，如有疑问请咨询专业顾问。

结论

本公告对公司股价具有潜在影响，处置收益、财务指标改善及资本优化均有望提升公司价值。

免责声明

本文仅作信息参考，不构成投资建议。投资者应自行进行尽职调查，并在做出投资决定前咨询专业顾问。该处置须满足相关条件，无法保证如期完成。

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