Hatten Land Limited (Under Judicial Management) Completes Major Corporate Overhaul and Acquisition of Metrocon Pte. Ltd.
Singapore, 31 July 2026 – Hatten Land Limited, under judicial management, has announced the completion of a series of transformative corporate actions, including a large-scale share consolidation, the acquisition of Metrocon Pte. Ltd., and the issuance of new shares to creditors and funders. The company will also adopt a new name, Metrocon Holdings Limited, and has implemented new mandates and employee incentive schemes. These developments mark a significant new chapter for the group and are likely to have a material impact on its future trajectory.
Key Points and Developments
- Share Consolidation: The company has consolidated every 830 existing shares into one (1) consolidated share. This process reduced the number of shares on issue and may improve the company’s share price and trading liquidity.
- Completion of Metrocon Pte. Ltd. Acquisition: Hatten Land has officially acquired 100% of Metrocon Pte. Ltd. from its vendor. As consideration, 107,705,689 new consolidated shares were issued at S\$0.26 per share.
- New Shares for Scheme Creditors and Funders:
- 22,374,979 new shares were issued to scheme creditors at S\$0.26 per share as part of the restructuring scheme.
- 21,547,104 new shares were issued to the funder at S\$0.26 per share.
- Enlarged Share Capital: Following all of these issuances, the company’s enlarged issued and paid-up share capital now stands at 153,867,569 consolidated shares (excluding treasury shares and subsidiary holdings).
- New Constitution and Name: The company has adopted a new constitution and will be formally renamed “Metrocon Holdings Limited.”
- New Share Issue and IPT Mandates: The company has implemented a new share issue mandate and an interested person transaction (IPT) mandate, both effective from 31 July 2026.
- Employee Incentive Schemes: The Metrocon Employee Share Option Scheme and Metrocon Performance Share Plan have been adopted and will be implemented going forward.
Investor Impact & Price Sensitive Information
- Massive Share Capital Restructuring: The 830-to-1 share consolidation will dramatically decrease the number of shares in circulation, which could have a significant effect on the per-share trading price and improve the perception of value among investors.
- Change in Control and Business Focus: With the acquisition of Metrocon Pte. Ltd. and the new name, the company is signaling a major shift in its core business and management, which could affect future strategic directions and valuations.
- Significant Dilution: The large number of new shares issued to the vendor, creditors, and funder will substantially dilute existing shareholders, but also strengthens the company’s capital base and balance sheet, potentially positioning it for new growth.
- Resumption of Trading: Shares have been suspended since 6 August 2024. There is a strong possibility that, following these changes and further compliance placements, trading of the shares could resume, which would be a key event for shareholders and could result in significant share price movements.
- Ongoing Announcements: Investors should monitor future announcements from the company regarding the compliance placement and the timing of the resumption of share trading.
What Shareholders Should Note
- All major resolutions at the extraordinary general meeting (EGM) on 22 July 2026 were passed, enabling these changes.
- The new shares issued are fully paid-up, free from encumbrances, and rank equally with existing consolidated shares.
- All capital restructuring and new mandates are now in effect as of 31 July 2026.
- The company has notified regulators and is in the process of updating its records for the constitution and name change.
- The company remains under judicial management, with further updates expected regarding its compliance placement and potential resumption of trading.
Conclusion
The completion of the acquisition, share consolidation, and issuance of new shares marks a pivotal transition for Hatten Land (soon Metrocon Holdings). These actions are likely to have a material impact on the company’s structure, future prospects, and share price once trading resumes. Investors should stay alert for further developments, especially regarding the compliance placement and the anticipated resumption of trading, which could trigger significant market activity.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should consult their own professional advisers before making any investment decisions related to the securities mentioned herein. The company remains under judicial management, and trading in its shares is currently suspended. All information is based on the company’s official announcements as of 31 July 2026.
海登置地（现更名为Metrocon Holdings）：完成重大企业重组及收购案
新加坡，2026年7月31日 —— 处于司法管理下的海登置地（Hatten Land Limited）宣布完成一系列重大的企业行动，包括大规模的股份合并、对Metrocon Pte. Ltd.的收购，以及向债权人和资方发行新股。公司还将更名为Metrocon Holdings Limited，并实施新的授权及员工激励计划。这些举措标志着集团迈向新篇章，预计将对公司未来发展产生重大影响。
报告要点及最新进展
- 股份合并： 公司已将每830股原有股份合并为1股新股份，大幅减少流通股本，或有助于提升股价及流动性。
- 完成收购Metrocon Pte. Ltd.： 海登置地已正式收购Metrocon Pte. Ltd. 100%股权，作为对价，向卖方发行了107,705,689股新股份，发行价为每股新币0.26元。
- 向债权人及资方发行新股：
- 向债权人发行22,374,979股新股份，发行价为每股新币0.26元。
- 向资方发行21,547,104股新股份，发行价同为每股新币0.26元。
- 扩大后股本： 完成上述发行后，公司合并后总股本增至153,867,569股（不含库存股及子公司持股）。
- 新章程及更名： 公司已采纳新公司章程，并将正式更名为“Metrocon Holdings Limited”。
- 新股发行及关联交易授权： 公司自2026年7月31日起，已实施新的股权发行及关联交易授权。
- 员工激励计划： Metrocon员工股票期权计划及绩效股份计划已通过并即将实施。
对投资者和股价的潜在影响
- 大规模股本重组： 830合1的股份合并将大幅减少流通股数，或对每股价格和市场认知产生显著影响。
- 控股权变更与业务转型： 收购Metrocon并更名，表明公司核心业务及管理层将发生重大转变，或影响未来战略及估值。
- 显著稀释： 向卖方、债权人及资方大量发行新股将显著稀释原有股东权益，但也能增强公司资本基础，为未来发展提供支撑。
- 恢复交易预期： 公司股份自2024年8月6日起暂停交易。随着重组完成及后续合规配售，恢复交易的可能性大增，或引发股价剧烈波动。
- 须持续关注后续公告： 投资者应密切关注公司关于合规配售及恢复交易的最新公告。
股东须知
- 2026年7月22日的股东特别大会上，所有相关决议已获通过，保障了各项变动顺利进行。
- 所有新发行股份均为全额缴足股本，并与现有股份享有同等权利。
- 所有股本重组及新授权自2026年7月31日起正式生效。
- 公司已通知相关监管机构，并正在办理章程及名称变更手续。
- 公司仍处于司法管理中，后续将发布更多关于合规配售及恢复交易的公告。
结论
本次收购、股份合并及新股发行的完成，标志着海登置地（即将更名为Metrocon Holdings）的重大转型。这些举措或将对公司结构、未来前景及恢复交易后的股价产生深远影响。投资者应密切关注公司后续公告，特别是关于合规配售及恢复交易的进展，这些都可能成为驱动股价波动的核心因素。
免责声明： 本文仅供信息参考，不构成任何投资建议。投资者如有疑问，应咨询专业顾问。公司目前仍处于司法管理阶段，股票暂停交易中。所有信息基于公司截至2026年7月31日的官方公告。
