Brief: Alpha Energy proposes disposal of entire information technology business

Alpha DX

03/12/2015 11:20

Dec 3 (Reuters) - Alpha Energy Holdings Ltd  ALPH.SI : 
 * Says the proposed disposal of the entire information technology business to 
   Ang Yew Jin Eugene 
 * Deal for for an aggregate cash consideration of S$4.33 million 
 * Entire net proceeds from the proposed disposal of S$4.87 million 
 * Currently evaluating opportunities to acquire additional oil and gas projects 
   and focusing on projects that are in or near production 
 * Says "Faces increasingly challenging business conditions in relation to the 
   it business" 
 * Says net proceeds will be used to finance continued development of the 
   group's oil and gas business 
 * Source text for Eikon  ID:nSNZyNCb  
 
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