Rowsley appoints Credit Suisse (Singapore) as financial adviser in proposed acquisition

MAINBOARD-listed Rowsley Limited has appointed Credit Suisse (Singapore) Limited as its financial adviser in the proposed acquisition of the entire issued and paid-up share capital of Sasteria Pte Ltd.

In a Singapore Exchange filing on Tuesday, Rowsley said: "The board also wishes to announce that the company is in the process of preparing and negotiating the terms of the definitive agreements to be entered into in relation to its proposed acquisition of the share capital of Sasteria Pte Ltd. The company will make appropriate update announcement(s) on the proposed transactions at the relevant time."

Rowsley has advised shareholders and investors to refrain from taking any action which may be prejudicial to their interests, and to exercise caution when dealing in the securities of the company.

"There is no certainty or assurance as at the date of this announcement that any definitive agreements will be entered into or that the proposed transactions will be proceeded with or, if proceeded with, on the indicative terms previously announced. Shareholders and investors should consult their stockbrokers, bank managers, solicitors or other professional advisers if they have any doubt about the actions they should take."

On July 18, Rowsley announced its expansion plans in the healthcare business. It said that controlling shareholder and Singapore billionaire Peter Lim had injected 100 per cent of Thomson Medical Pte Ltd and 70.36 per cent of Bursa Malaysia-listed TMC Life Sciences into the firm.

The proposed acquisitions are valued at up to S$1.9 billion.

Rowsley closed trading at S$0.134 on Tuesday, up S$0.007, or 5.5 per cent.