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8I HOLDINGS LTD — Capital/Financing Update 2017
Nov 27, 2017
64264_rns_2017-11-27_cc8f5f88-bde3-40c6-af75-69a3f7c914c3.pdf
Capital/Financing Update
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ASX ANNOUNCEMENT / MEDIA RELEASE
For Immediate Release
8I Holdings Ltd (ASX: 8IH)
Completion of Sale of 8VIC Global Pte Limited and Acquisition of Substantial Interest in Digimatic Group Limited
28 November 2017, Singapore
8I Holdings Limited (ASX: 8IH ) (“ 8IH ” or the “Company”) is pleased to announce that it has completed the sale of the Company’s 95% holdings in 8VIC Global Pte Limited (“8VIC Global”) to Digimatic Group Limited (“DMC”) (ASX: DMC) (the “Transaction”) for a consideration of 1,448,955,200 pre-consolidated DMC shares at a deemed issue price of A$0.042 per share, with the approval of the Transaction by 8IH shareholders at the Extraordinary General Meeting (“EGM”) held on 22 November 2017.
The sale was completed following:
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The transfer of 2,148,421 ordinary shares in 8VIC Global from 8IH and Glorymont Ltd (“Glorymont”) (collectively known as the “Vendors”) to DMC, and;
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The issuance of 1,525,216,000 pre-consolidated DMC CHESS Depositary Interests (CDIs) to the Vendors (“Consideration Shares”) which represents 70% of the enlarged share capital of DMC post-issuance. The details of the Consideration shares are set out as below:
| Vendor | Consideration Shares(Pre-consolidated) | Percentage of EnlargedShare Capital |
|---|---|---|
| 8IH | 1,448,955,200 | 66.50% |
| Glorymont | 76,260,800 | 3.50% |
| Total | 1,525,216,000 | 70.00% |
As a result of the above-mentioned Transaction, 8IH will become the holding company of DMC. Via accounting consolidation of DMC into the Group , 8IH will increase its cash on hand by S$11.1million and net assets by S$11million.
ENDS
For further information, please email [email protected]
Media Enquiries:
Louis Chua Sally Teo Company Secretary (Australia) Investor Relations 8I Holdings Ltd 8I Holdings Ltd +65 6225 8480 ext. 114 +65 6225 8480 ext. 116 [email protected] [email protected]
About 8I Holdings Limited
8I Holdings Limited (“8IH” or the “Group”) is a public company listed in Australia, primarily engaged in the businesses of investment in public and private markets, fund management and financial education.
The Group invests in public listed companies and operates a licensed fund management business in Singapore through its wholly-owned subsidiary, Hidden Champions Capital Management Pte. Ltd. It upholds the investment concept of investing into “undervalued” listed entities with value investing methodologies. The Group also invests in private businesses with hidden value and good operational track record. As a strategic investor, the goal is to value-add and create synergy amongst investee companies.
The Group provides financial education through Value Investing College (“VIC”). Owned by 8VIC Global Pte Limited, VIC is the leading Financial Education Provider (in the discipline of value investing) in Singapore and Malaysia. With offices in Singapore, Malaysia, Thailand and Taiwan; and participants spanning from 23 cities, VIC Global seeks to build the largest community of value investors globally.