Manhattan Resources buys 60% of Starsmind

Singapore

MANHATTAN Resources Ltd said that it has exercised its call option to acquire a 60 per cent stake in investment holding company Starsmind Capital Pte Ltd (SCPL) for S$40 million.

This followed an extraordinary general meeting held on Saturday where shareholders approved the proposed acquisition that will be paid via issuance of 62 million new shares at 64.5 Singapore cents apiece.