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Loyz to acquire Primeline Energy in RTO deal; plans transfer to mainboard

Singapore

LOYZ Energy on Tuesday announced that it would acquire oil and gas company Primeline Energy Holdings (PEH) for about S$197 million, and seek a transfer of its listing from Catalist to mainboard thereafter.

The consideration for the proposed acquisition payable by Loyz to PEH shareholders will be satisfied entirely by the issue of 1.79 billion new ordinary shares at S$0.11 apiece. Accordingly, the proposed acquisition, if completed, is expected to constitute a reverse takeover (RTO) of Loyz,...

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