JCG Investment Holdings has entered into an agreement to buy 100 per cent of the issued and fully paid up ordinary shares in the capital of Brand X Lab for S$3.35 million.
JCG Investment engages in the distribution of raw materials, consumables and disposable supplies, measuring systems, equipment, and engineering spares. It operates through three segments: trading and distribution, aesthetic medical, and investment and others. The group said that the acquisition of Brand X Lab, which is involved in event organisation and promotion, as well as business and management consultancy services, is"synergistic with and complementary to" the company’s existing medical aesthetics and healthcare business.
Brand X Lab's net asset value as at Dec 31, 2018 was S$510,863 based on unaudited accounts. For the financial year ended Dec 31, 2018, net profit was S$374,536.The acquisition will be financed through the issuance of 1.86 billion new ordinary shares at the issue price of 0.18 Singapore cent per share, and the issuance of 310 million new unlisted warrants that can be converted into one ordinary share at an exercise price of 0.18 Singapore cent per warrant.
Consideration warrants can be exercised at any time during the period commencing on the date of issue of the warrants and expiring on the day immediately preceding the fifth anniversary of the date of issue.
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