SG Dealbook: Best World share split; Vallianz settles debt

Best World International has proposed a share split of each ordinary share in the capital of the company while Vallianz Holdings enters into letters of agreement with trade creditors to settle S$7.6 million of payables through the issuance of 380.6 million shares.

Best World proposes share split

The board of directors for Best World International Limited are proposing a share split of each ordinary share in the capital of the company.

As per the terms, the board is proposing to split every one existing share into two new shares. The company currently has an issued and paid-up share capital of approximately $20.2 million, comprising 277,196,007 shares including 1,966,250 treasury shares. Following the completion of the proposed share split, Best World will have 554,392,014 issued new shares.

The rationale for the move is that the increased number of shares available for trading purposes may broaden the shareholder base of the company by improving the accessibility of investment in Best World to new investors.

It may also reduce the price of each share and make them more affordable and accessible to more investors. Furthermore, the reduced price of each share may enhance the trading liquidity of the shares over time.

Vallianz creditors accepts 380.6m new shares for $7.6m debt

Vallianz Holdings announced that it entered into letters of agreement with trade creditors who will accept 380.6 million new shares or 8.8 per cent of the enlarged share capital in exchange for a S$7.6 million debt.

In a filing to the Singapore Exchange, the offshore support vessels owner and operator said the new shares are priced at S$0.02 per share and a total of 13 trade creditors are involved.

Proceeds from the subscription will go towards settling trade payables while conserving cash reserves of the group.

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.