Jubilee

Jubilee - Serial System has agreed to sell its entire 13.6% stake in Jubilee Industries Holdings to WE Holdings for $7.7m. The price works out to 24.2c a share, a handsome premium to the closing price of 12.5c as at May 23. Serial System had bought the shares at an average price of 18.8c apiece. The co said the board considered the sale as non-core assets, and is of the view that the disposal would enable it to realise returns on its investment in Jubilee, and also to avail itself of cash which can be deployed into its core businesses or utilised for other business opportunities .