SG Dealbook: Lifebrandz to explore new biz; Loyz Energy’s share placement; GLP’s strategic review

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.

Also Read: 

SG Digest: Carousell Motors launches; Spacemob & Ascendas-Singbridge partnership

SG Dealbook: Q&M strategic review; Funding Societies’ Malaysia launch

SG Dealbook: Best World share split; Vallianz settles debt

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.