Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Hong Kong
  4. Hong Kong Stock Exchange
  5. Singamas Container Holdings Limited
  6. News
  7. Summary
    716   HK0716002271

SINGAMAS CONTAINER HOLDINGS LIMITED

(716)
  Report
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

Singamas Container : CONNECTED TRANSACTION - REPAYMENT ARRANGEMENT HAVING BECOME EFFECTIVE

03/30/2021 | 08:18pm EST

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

勝 獅 貨 櫃 企 業 有 限 公 司

SINGAMAS CONTAINER HOLDINGS LIMITED

(Incorporated in Hong Kong with limited liability)

(Stock Code: 716)

CONNECTED TRANSACTION

REPAYMENT ARRANGEMENT HAVING BECOME EFFECTIVE

Reference is made to the announcements of the Company dated 4 November 2020 (the "November 2020 Announcement"), 11 December 2020 (the "December 2020 Announcement") and 3 March 2021 (the "March 2021 Announcement") and the circular of the Company dated 24 November 2020 (the "Circular") in relation to the settlement deed entered into between the Company and PIL (the "Deed"). Unless otherwise stated, terms defined in the Circular shall have the same meaning when used in this announcement.

As disclosed in the November 2020 Announcement and the Circular, the repayment arrangement under the Deed shall be effective on and from the date on which certain conditions are satisfied, including (among other things):

  1. the sanction of the PIL Scheme of Arrangement by the High Court of the Republic of Singapore pursuant to Section 210 of the Companies Act (Chapter 50) or Section 70 or 71 of the Insolvency, Restructuring and Dissolution Act 2018 ("Condition (i)");
  2. the completion of the investment by one or more entities managed and controlled by Heliconia into PIL (directly or indirectly) on terms to be agreed between those entities and PIL ("Condition (ii)"); and
  3. approval of the Deed and the transactions and arrangements contemplated thereunder by the Independent Shareholders ("Condition (iii)").

SATISFACTION OF THE CONDITIONS TO THE REPAYMENT ARRANGEMENT UNDER THE DEED

As disclosed in the December 2020 Announcement, the Company has already passed the resolution at the EGM pursuant to which the Independent Shareholders have approved the Deed and the transactions and arrangements contemplated thereunder. Therefore, Condition (iii) has been satisfied.

-1-

In relation to Condition (i), as disclosed in the March 2021 Announcement, the Company was informed by PIL that the sanction of the PIL Scheme of Arrangement by the High Court of the Republic of Singapore had been granted on 3 March 2021 pursuant to Section 210 of the Companies Act (Chapter 50). PIL further informed the Company that a copy of the order made by such court had been lodged with the Accounting and Corporate Regulatory Authority of Singapore on 16 March 2021, hence the PIL Scheme of Arrangement was deemed to have taken effect on and commenced from 16 March 2021. Consequently, Condition (i) has been satisfied.

In relation to Condition (ii), as advised by PIL, the investment by one or more entities managed and controlled by Heliconia into PIL (directly or indirectly) has been completed on 30 March 2021. Consequently, Condition (ii) has been satisfied.

Pursuant to the terms of the Deed, the Deed shall be effective on and from 30 March 2021, being the date on all the conditions of the Deed have been satisfied.

By order of the Board

Singamas Container Holdings Limited

Chung Pui King, Rebecca

Executive Director and Company Secretary

Hong Kong, 31 March 2021

The Directors as at the date of this announcement are Mr. Teo Siong Seng, Mr. Chan Kwok Leung and Ms. Chung Pui King, Rebecca as executive Directors, Mr. Tan Chor Kee and Mr. Kwa Wee Keng as non-executive Directors and Mr. Cheng Fu Kwok, David, Mr. Lau Ho Kit, Ivan and Mr. Ho Teck Cheong as independent non-executive Directors

-2-

Disclaimer

Singamas Container Holdings Limited published this content on 31 March 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 March 2021 00:17:01 UTC.


ę Publicnow 2021
All news about SINGAMAS CONTAINER HOLDINGS LIMITED
01/17Singamas Container Projects Surge in 2021 Profit
MT
01/16Singamas Container Holdings Limited Provides Earnings Guidance for the Year Ended Decem..
CI
01/12SINGAMAS CONTAINER HOLDINGS LIMITED : Ex-dividend day for extraordinary dividend
FA
2021Singamas Container Names New COO
MT
2021Singamas Container Holdings Limited Announces Management Changes
CI
2021Singamas Container Holdings Limited Announces the Interim Special Dividend for the Six ..
CI
2021SINGAMAS CONTAINER HOLDINGS LIMITED( : 716) added to S&P Global BMI Index
CI
2021SINGAMAS CONTAINER HOLDINGS LIMITED : Ex-dividend day for interim dividend
FA
2021Singamas Container Holdings Limited Announces Semi-Annual Dividend for the Period End 3..
CI
2021Singamas Container Holdings Limited Reports Earnings Results for the Half Year Ended Ju..
CI
More news
Financials (USD)
Sales 2021 1 048 M - -
Net income 2021 - - -
Net Debt 2021 - - -
P/E ratio 2021 -
Yield 2021 15,2%
Capitalization 354 M 354 M -
Capi. / Sales 2021 0,34x
Capi. / Sales 2022 0,50x
Nbr of Employees 3 466
Free-Float -
Chart SINGAMAS CONTAINER HOLDINGS LIMITED
Duration : Period :
Singamas Container Holdings Limited Technical Analysis Chart | 716 | HK0716002271 | MarketScreener
Technical analysis trends SINGAMAS CONTAINER HOLDINGS LIMITED
Short TermMid-TermLong Term
TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 0
Last Close Price 0,15 $
Average target price 0,27 $
Spread / Average Target 85,8%
Managers and Directors
Siong Seng Teo Chairman, President & Chief Executive Officer
Pui King Chung CFO, Secretary & Executive Director
Wai Yee Siu Chief Operating Officer
Ho Kit Lau Independent Non-Executive Director
Fu Kwok Cheng Independent Non-Executive Director
Sector and Competitors
1st jan.Capi. (M$)
SINGAMAS CONTAINER HOLDINGS LIMITED-2.56%354
BALL CORPORATION-10.08%28 040
AVERY DENNISON CORPORATION-9.84%16 167
CROWN HOLDINGS, INC.-3.30%13 483
BRAMBLES LIMITED-8.00%9 866
SEALED AIR CORPORATION-2.62%9 734