NH Ceramics to acquire BlackGold
Friday, March 29 2013 - 08:20 AM WIB
SGX-listed NH Ceramics Ltd recently announced it has on 25 March 2013, entered into a termsheet with Twin Gold Ventures S.A., Rockfield Lake Limited, Cerenti Investments Ltd, Novel Creation Holdings and Kaalasona Limited proposing to acquire 100 percent of the total equity interest of BlackGold Asia Resources Pte. Ltd. and BlackGold Energy Limited.
The BlackGold Group has controlling interests in three Indonesian companies that each has coal concessions covering a combined area of approximately 53,000 hectares located in the Riau Province, Island of Sumatra, the company said in a statement Thursday.
The purchase price payable by the company for all the issued shares shall be equivalent to US$150,000,000, which shall be satisfied in entirety by the allotment and issue of 3,177,966,101 new ordinary shares in the share capital of the company to the vendors or their respective nominees at an issue price of S$0.059 per Consideration Share.
NH Ceramics Ltd, through its wholly-owned operating subsidiary of 44 years, Nam Huat Tiling & Panelling Co. Pte. Ltd, continues to stock, supply and distribute an extensive range of premier grade ceramics, marble, granite tile products to Architects, Developers, Contractors and Home Owners.
Editing by Er Audy Zandri