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KINGSMEN Creatives Ltd has entered into a sale and purchase agreement with Peok Chong Eng to acquire 117,000 ordinary shares of Kingsmen (North Asia) Ltd (KNA), for an aggregate consideration of S$3.17 million.
The deal will see Kingsmen increase its shareholding in KNA from 92.2 per cent to 100 per cent.
Of the S$3.17 million purchase consideration, S$1.8 million will be satisfied by the allotment and issuance of new ordinary shares in the capital of Kingsmen. The remaining S$1.37 million will be paid in cash.