Lifebrandz will continue to search for new business ventures after recent termination of acquisition, Loyz Energy issues 465.87 million new shares at S$0.0260 a piece and Global Logistics Properties completes evaluation of various non-binding proposals.
Lifebrandz to continue search of new business ventures after terminating acquisition
Lifebrandz announced on Monday that it will still continue to explore and source out new business transaction ventures after the recent termination of the proposed acquisition of Nature Essence Group.
The firm added that it will be working with various professionals, service arrangers and business associates for recommendations and referrals to facilitate potential business opportunities.
The group also said it has been in the direction to raise funds through new placement exercises.
“Accordingly, the Board is of the opinion that based on the above, the Company is able to continue as a going concern,” they said.
Loyz Energy issues 465.87 million new shares as final debt settlement
Loyz Energy entered into a placement agreement to allot and issue 465.87 million new shares at an issue price of S$0.0260 as a final settlement for the outstanding loan balance of $8.56 million by Jit Sun Investments.
The new shares represent approximately 43.9% and 30.5% of the existing and enlarged issued and paid-up share capital of the company, respectively.
Following the transaction, Jit Sun would have a 10 per cent stake in Loyz Energy.
GPL provides update on strategic review
Global Logistic Properties Limited said that its special committee has shortlisted several parties and evaluated various non-binding proposals in relation to the independent strategic review of options available for its business.
The logistics group added that the review might involve a possible acquisition of all, or some, of the shares of the company, which may or may not lead to an offer being made for the shares of the company.
“There is no certainty that any definitive transaction will materialise from, or that any offer will be made as a result of, any such proposals or the Strategic Review, and there is no certainty as to the terms of a transaction (if any),” they added.