Brief: Sapphire Corporation entered into sale and purchase agreements

Sapphire

30/12/2016 15:12

Dec 30 (Reuters) - Sapphire Corporation Ltd  SAPP.SI : 
    * Has agreed to sell an aggregate of 81% in issued and paid 
up share capital of Mancala Holdings Limited hk$63.2 million 
    * Cash proceeds from the transactions are HK$28.2 million 
(approximately s$5.0 million) and HK$35.0 million in CVT shares 
    * Entered into  sale and purchase agreements with each of 
China Vanadium Titano-Magnetite Mining Co and Toe Teow Heng 
    * CVT has agreed to acquire 49% of issued and paid up 
capital of Mancala Holdings for a purchase consideration of 
hk$38.2 million 
    * TTH has agreed to acquire 32% of issued and paid up 
capital of Mancala Holdings for a purchase consideration of 
hk$25 million 
 
Source text for Eikon:  ID:nSN1B52wk  
Further company coverage:  SAPP.SI  
 
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