(Incorporated in the Republic of Singapore) (Company Registration No. 200405216C)
The Board of Directors of Advanced Integrated Manufacturing Corp. Ltd. (the "Company" and together with its subsidiaries, the "Group") wishes to announce that its wholly-owned subsidiary, Hao Mart Pte. Ltd., has entered into an asset purchase agreement for the acquisition of a minimart business located at Blk 443 Jurong West Ave 1 #01-K1 Singapore 640443 (the "Acquisition").
The consideration for the Acquisition is S$55,000 and shall be paid in cash. The consideration for the Acquisition was arrived at on a willing buyer willing seller basis and on arm's length commercial terms, taking into account the value of the assets and liabilities of the minimart business and its business prospects. No valuation was commissioned in respect of the minimart business.
All relative figures of the Acquisition computed pursuant to Rule 1006 of the SGX-ST Listing Manual, based on the Company's audited consolidated results for the financial year ended 31 December 2014, are less than 5% and accordingly the Acquisition constitutes a non-discloseable transaction under Chapter 10 of the SGX-ST Listing Manual.
The Acquisition is expected to provide an additional revenue stream for the Group, and is part of the Group's strategy to pursue diversification to strengthen the Group's operations and financial position and to ensure continued growth and success of the Group.
None of the Company's directors or substantial shareholders has any interest, direct or indirect, in the Acquisition, save for their shareholdings in the Company (if any).
18 January 2016
AIM - Advanced Integrated Manufacturing Corporation Ltd. issued this content on 2016-01-18 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 2016-01-18 09:55:09 UTC
Original Document: http://aimcorp.listedcompany.com/newsroom/20160118_174009_AXH_B6GPRQWLHLARFAGJ.1.pdf
