Freight Links & FDS Networks: Signs non-binding MOU with SGX Listed FDS Networks Group. Freightlinks, together with other vendor owners, will sell coal production co China Southwest Energy Corp (CSECL) to FDS for $210m which will be satisfied in full by issuing new shares to the vendors at the issue price of S$0.04 per Consideration Share. This is a substantial transaction which qualifies as an RTO for FDS.
Freightlinks’ % stake was undisclosed but was issued 7.2m in convertible pref shares in CSECL.
FDS last traded at 3c per share. Co’s current mkt cap is $5.7m compared to the $210m for the deal but was placed underthe SGX watchlist. FDS is in the data and IT equipment and servicesspace.
Of late, there have been several mining listings or investments with PSL also planning an acquisition of a coal mining asset and gold mining co CNMC listing in Sg.
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