Enviro-Hub enters sale-and-purchase agreement for Pastel Glove
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
ENVIRO Healthcare, a wholly-owned unit of Enviro-Hub Holdings, has entered a sale-and-purchase agreement for its planned acquisition of the remaining 75 per cent stake in an associate, Pastel Glove, for S$46.8 million.
The mainboard-listed company previously disclosed on May 21 that it would pay S$23.4 million in cash for Pastel Glove, and issue 292,500,000 new shares at S$0.08 apiece. There will be a one-year moratorium for the shares.
In a Thursday bourse filing, Enviro-Hub said that it will finance the consideration and other fees with internal funds and revenue. As at end-2020, it had a cash balance of S$17.3 million. The company said that the proposed deal would not adversely affect operations.
Enviro-Hub had called for a trading halt on Tuesday this week, and asked for the halt to be lifted on Thursday night.
Shares of the company last traded at S$0.084 before the halt.
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Copyright SPH Media. All rights reserved.
TRENDING NOW
‘Boring’ is the new black: The stars are aligning for a Singapore stock market revival
Near sell-out launches in March boost developer sales to 1,300 units after four slow months
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
Genting Singapore’s Lim Kok Thay receives S$7.5 million pay package for FY2025
