The Terratech group is planning to issue 74 million new shares, while The Marketing Group Plc, which is listed on the NASDAQ Firth North, has acquired Vodrum and its subsidiaries to grow its marketing footprint globally.
Terratech to raise $2.22m
SGX Catalist-listed Terratech Group Limited is set to issue 74 million new shares at S$4.05 (US$2.99) apiece, raising S$3 million (US$2.22 million) in the process. The newly acquired liquidity will be majoritarily used to explore strategic investments, acquisitions, strategic alliances and joint ventures. The rest of the capital is to be reinvested in working capital.
The new shares being issued represent 12.03% of Terratech’s existing share capital and 10.74% of its enlarged share capital.
Earlier this year, Terratech had signed a conditional sale and purchase agreement with Malaysian property developer Capital City Property Sdn Bhd acquiring the latter for S$300 million ($221.83 million).
Terratech Group is the owner of Terratech Resources Pte Ltd, which owns through its subsidiary CEP Resources Entity one of the largest marble resources in South-East Asia. The location of the quarry is in Kelantang, Malaysia.
The Marketing Group acquires Vodrum
Vodrum’s subsidiary list consists of firms such as Singapore-based The Brand Theatre, a global brand consultancy or Sydney’s marketing business Channel Zero. Other firms include PR and social media agency Ranieri and London-based strategic agency Slingshot Sponsorship.
The deal was agreed at a strike price of EUR 7.65 (US$8.62) per share, with a total value of 13.7 million Euros ($15.44 million). The new total number of ordinary shares issued by The Marketing Group will increase from 29 million to 31 million.
Joining The Marketing Group will give Vodrum’s subsidiary businesses access to the companie’s networks and infrastructures.