ISR Capital : Extension of Completion of Investment in Straits Hi-rel Pte. Ltd.
ISR CAPITAL LIMITED(Company Registration No. 200104762G) (Incorporated in the Republic of Singapore)
EXTENSION OF COMPLETION OF INVESTMENT IN STRAITS HI-REL PTE. LTD.
The Board of Directors (the “Board“) of ISR Capital Limited (the “Company“, and togetherwith its subsidiaries, “Group“) refers to the announcements made by the Company on 11 July 2017, 16 July 2017, 18 September 2017, 25 September 2017, 17 October 2017 and 19 December 2017(“Prior Announcements“)in relation to the proposed investment by Infiniti Advantage Pte Ltd (a wholly-owned subsidiary of the Company) (“Infiniti“) in Straits Hi-Rel Pte. Ltd.
Unless otherwise defined herein, all capitalised terms used herein shall bear the meanings ascribed to them in the Prior Announcements.
Further to the Prior Announcements, the Board wishes to announce that Infiniti, SHR and the Original Shareholders have entered into an amendment agreement to: (1) split Stage 3 of the Investment into two stages, namely Stage 3A and Stage 3B; and (2) extend and/or fix the completion dates for Stages 3A, 3B and 4 of the Investment to 3 January 2018, 31 January 2018 and 28 February 2018, respectively. The Parties have also agreed to amend the amount of cumulative pipeline of projects which SHR has to secure for Stages 3A and 3B, as one of the conditions to completion, to US$600,000 and US$1,000,000 respectively.
The Company will make further announcements to update shareholders on material developments regarding the Investment, and further details will be provided where appropriate.
By Order of the Board ISR Capital Limited
Chen Tong Executive Chairman
28 December 2017
ISR Capital Ltd. published this content on 28 December 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 28 December 2017 15:49:02 UTC.