LeronoBio-Chem: Update on reverse takeover Bintai Kinden acquisition. Co will pay RM214.8m for entire 100% stake and will issue 17.5b shares at $0.005 per share (same as last done price) and 1.75b warrants (1 for every 10 consideration shares) to the vendors, Bintai Kinden Corp and Biz Investment Ltd…
After acq, vendors will hold 86.3% of enlarged share capital and will hold approx 87.4% if warrants are fully exercised. Co will also propose a consolidation of its shares at a ratio to be advised. Bintai Kinden is involved in the mechanical and electrical engineering business. Lerono has been making losses since 2006
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