7 Sep 2011 09:52
6 September 2011
Tembusu Investments Limited
("Tembusu" or the "Company")
Sale of shares by Total International Investments Limited and change of the board of directors
The Company has been informed that Total International Investments Limited ("Total"), which is at present the majority shareholder in the Company, entered into a conditional agreement on 5 September 2011 with Shine Link Limited to sell to it 45 million ordinary shares of one penny each in the capital of the Company ("Shares"), respectively, for a total GBP1,720,000.00 (the "Sale"). The Agreement has become unconditional and the Sale is now completed. Total no longer holds any Shares.
The current Board of Directors, Mr Yahya Mirza, Ms Zhang Yun and Mr Robert Wearing will resign on 7 September and be replaced by the appointment of a new executive director, Chan Fook Meng and one non executive director, Mr Lai Seng Kwoon. An additional non executive director will be appointed as soon as possible and a further announcement will be made in due course. Details of Mr Chan and Mr Lai are set out below. The new management will seek to enhance shareholder value by acquiring suitable high growth businesses in Asia. Any change to the existing investment strategy of the Company will need to be approved by shareholders at a General Meeting. The Company takes this opportunity to express its sincere appreciations to Mr Mirza, Ms Zhang and Mr Wearing for their support and contributions in the past.
Mr Chan Fook Meng owns 100% of Shine Link Limited, a British Virgin Islands registered company. In addition, Mr Chan has purchased all the shares in Bernholz Limited from Mr Lawrence Cheung. Through Bernholz Limited, Mr Chan holds another 10 million Shares. Upon completion of the Agreement, Mr Chan will indirectly hold 55 million Shares representing approximately 78.57 per cent. of the issued share capital of the Company and, in addition, through Bernholz, Mr Chan will hold warrants over a further 30 million shares in the Company.
For enquiries: | |
Tembusu Investments Limited | Tel: +65 9630 7808 |
Chan Fook Meng, Chairman and Chief Executive Officer | |
Allenby Capital Limited (Nominated Adviser and Broker) | Tel: +44 (0)20 3328 5656 |
Brian Stockbridge | |
Dan Robinson | |
James Reeve |
Regulatory disclosures
Chan Fook Meng (aged 50) and Lai Seng Kwoon (aged 52) are or have been directors of the following companies in the last five years:
Director | Current directorships | Previous directorships |
Chan Fook Meng | Bestsky Consulting and Business Solutions Private Limited Claymore Technology Private Limited Clementi Distribution Private Limited Equity Chambers (Asia) Private Limited Fairway Everbright Private Limited First Carbon Holdings Limited First Carbon Trust Limited Foresight Associates Private Limited Healthgrowth Private Limited Jersey Hills Holdings Limited Kian Contract (S) Private Limited M.E.I. Consultants Private Limited Menora Construction Private Limited Menora Trading Limited Orlit Enterprises (S) Private Limited Purestar Group Limited Quality City Limited Sea Rock Holdings Limited Shine Link Limited SPT Asia Private Limited Superall Investments Limited Total Management Private Limited Tricor Environmental Private Limited Tricor plc Vantage Capital Private Limited Vantage Corporation Limited Watermark Construction Private Limited Watermark Developments Limited Watermark Developments Private Limited Your Majesty Entertainment Private Limited Riester Limited Central Partners Investments Limited
| 7 Labs Pte Limited Alchem Global Private Limited CNAM Management Services Private Limited Lucas H&P Private Limited Park One Private Limited Startech Loyalty Private Limited Sunlabel Private Limited Tembusu Investments Limited Total International Investments Limited UniLegal LLC Veles Solutions Private Limited
|
Lai Seng Kwoon | Aero Inventory Singapore Private Limited China Sky Chemical Fibre Co Limited Egg Harvest Private Limited LMS Consulting Private Limited Marble Bar Asset Management (Singapore) Private Limited Oceanus Group Limited Reed Works Limited The Training Advisory Company Pte Limited United Sino Limited
| Corporate Planning Advisory Private Limited Corporate Professional Advisors Private Limited Faulding Distributors (SEA) Private Limited Hengxin Technology Limited Kingsville Capital Limited KNP Investments Private Limited Landwind Medical Holdings Limited LB Queensland Pte Limited Lehman Brothers Asia Pacific (Singapore) Private Limited Lehman Brothers Bangkok Riverside Development Private Limited Lehman Brothers Capital Asia Private Limited Lehman Brothers Commodities Private Limited Lehman Brothers Finance Asia Private Limited Lehman Brothers Investments Private Limited Lehman Brothers Pacific Holdings Private Limited Lehman Brothers Thailand Investments Private Limited Sail Investor Private Limited Sino Construction Limited Startech Electronics Limited Thai Copper Industries Public Company Limited
|
Current directorships of companies in provisional or actual liquidation:
| Previous directorships of companies liquidated:
| |
Lai Seng Kwoon | Celestial NutriFoods Limited (provisional) Celestial (Singapore) Nutrifoods Private Limited China Milk Products Group Limited China Sun-Bio-Chem Technology Group Co Limited (provisional) China Sun Bio-Chem Technology (S) Co Private Limited New City Asia Fund Management Private Limited Oriental Century Limited
| 2BSure.com Private Limited Bizworks Consulting Private Limited NCAT 2 Private Limited* NCAT 3 Private Limited* New City Asia Trust Management Private Limited* New City Group Funds Management Private Limited* Santa Rosa Investments Private Limited TAS Express Asia Pacific Private Limited
|
In Mr Lai's professional capacity as an accountant he acts as nominee director or for listed companies as independent director of a number of companies in liquidation referred to under his name above. These appointments were assumed to enable the relevant companies to comply with local regulatory requirements, for planned restructurings and where the companies were to be put in liquidation, in order to facilitate the liquidation process. A number of these cases were for the purposes of a solvent liquidation. In respect of the companies above marked with an * his appointment as director occurred after the company was placed into liquidation.
Save as disclosed above, there are no further disclosures to be made in relation to Chan Fook Meng or Lai Seng Kwoon under Schedule Two, paragraph (g) (i)‒(viii) of the AIM Rules for Companies.