SIIC ENVIRONMENT HOLDINGS LTD.
The Board of Directors ("Directors") of SIIC Environment Holdings Ltd. (the "Company" and together with its subsidiaries, the "Group") refers to the announcements made by the Company on 24 March
2015, 27 April 2015, 29 April 2015 and 15 May 2015 on the Proposed Acquisition ("Announcements"). Unless otherwise defined, all terms and references used herein shall bear the same meaning ascribed to them in the Announcements.
Further to the Announcements, the Company wishes to announce that all the Conditions Precedent I
and II have been fulfilled and following thereto, the Company has today issued and allotted
1,560,000,000 Consideration Shares to the Vendor at the Issue Price.
Following the issuance and allotment of the Consideration Shares, the total number of issued shares in the capital of the Company (excluding treasury shares) has increased from 9,589,292,132 to
11,149,292,132 as at the date of this announcement. The Consideration Shares represent approximately 14.0% of the enlarged share capital of the Company.
The Consideration Shares are issued and allotted free from all claims, charges, liens and other encumbrances whatsoever and are ranked pari passu in all respects with and carry all rights similar to the existing issued shares of the Company.
Accordingly, the Company has completed the Proposed Acquisition and the Target Company has become a wholly-owned subsidiary of the Company.
Following Completion, the Company shall within ten (10) days of receipt of the relevant party's account details form the Vendor, allocate the amount of funds which is equivalent to the Outstanding Debt to repay the Outstanding Debt in the HK Co.
The Company will make further announcements via the SGXNET on the progress of the Proposed
Acquisition.
Feng Jun
Executive Director
21 May 2015
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