Brief: Pacific Radiance Updates On Restructuring

Pacific Radiance

20/12/2018 09:34

Dec 20 (Reuters) - Pacific Radiance Ltd  PACI.SI :
    * CERTAIN INVESTORS HAVE REDUCED IN PART OR ENTIRELY THEIR
PREVIOUSLY INDICATED AMOUNT OF INVESTMENT FOR EQUITY INJECTION
    * HAS EXECUTED A BINDING TERM SHEET ON 19 DECEMBER 2018 WITH
PARTIES WHO CONTROL A VESSEL OWNING AND LOGISTICS SERVICES
PROVIDER
    * HAS OBTAINED FIRM INVESTMENT COMMITMENTS FROM SOME
INVESTORS FOR
EQUITY INJECTION OF UP TO US$85 MILLION
    * CO WILL ACQUIRE A TARGET CO, INTO WHICH PROMOTERS ARE TO
PROCURE
INJECTION OF BUSINESS & ASSETS OF  ABOUT US$180 MILLION

Source text for Eikon:  ID:nSNZ1g6QnS 
Further company coverage:  PACI.SI 

 ((Reuters.Briefs@thomsonreuters.com;))