Hatten Land Completes Takeover by Metrocon

MT Newswires

Aug 03

Hatten Land (SGX:PH0) completed the acquisition of the entire issued and paid up share capital of Metrocon, according to a Friday filing with the Singapore Exchange.

The property developer undertook the share consolidation on July 31, consolidating every 830 existing shares into one consolidated share.

All conditions precedent for the acquisition were also satisfied with the company acquiring Metrocon from the vendor, issuing around 107.7 million new consolidated shares at SG$0.26 each.

Additionally, 22.4 million scheme creditors shares were issued to scheme creditors and 21.5 million funder shares to the funder at SG$0.26 each.

The company has also lodged documents with ACRA to adopt a new constitution which will reflect the company's new name, Metrocon Holdings.

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