skip to

This Page is HomeUpdates

What's New

Penta-Ocean Construction Co., Ltd.
Takuzo Shimizu, President, CEO and Representative Director

Notice regarding Subscription for a Third Party Allotment of New Shares Issued by Koh Brothers Eco Engineering Ltd. in Singapore

Tokyo, Japan Jun. 8, 2021 - As announced in the previous news release published on March 15, 2021, Penta-Ocean Construction Co., Ltd. (hereinafter, the Company) is pleased to announce that on June 8, the Company subscribed for a third-party allotment of new shares issued by Koh Brothers Eco Engineering Ltd. (Chairman: Koh Keng Siang, hereinafter, KBE), which is listed on the Catalist Board of Singapore Exchange.

1. Outline of the acquisition of the shares
The Company subscribes for all of the 810,000,000 common shares to be newly issued by KBE through a third-partly allotment at a price of SGD 4.7 cents per share, and will hold approximately 28.75% of the outstanding shares of KBE. Consequently, KBE will become an equitymethod affiliate of the Company and the Company will send one director to KBE.

(1) Number of shares acquired and status of shares held after the acquisition

Number of shares held before the acquisition 0 shares
Number of shares acquired 810,000,000 shares
(Acquisition price: SGD 38,070,000 )
Number of shares held after the acquisition 810,000,000 shares
(proportion of share owned: 28.75%*)
*In the case that all of outstanding warrants are exercised: 25.06%

2) Outline of KBE

Company name Koh Brothers Eco Engineering Ltd.
(Listed on the Catalist of the Singapore Exchange)
Address 11 Lorong Pendek, Koh Brothers Building, Singapore 348639
Name and title of the representative Chairman: Koh Keng Siang
Business description Engineering and construction, bio-refinery and bio-energy business, etc.
Capital SGD 96,564,000
Year of establishment 1975
Number of shares issued (Before the issuance) 2,007,613,004 shares
(After the issuance) 2,817,613,004 shares
Main shareholder and ownership ratio Koh Brothers Group Ltd.
(Listed on the Mainboard of the Singapore Exchange)
(Before the new issuance) 76.94%
(After the new issuance) 54.82%*
*In the case that all of outstanding warrants are exercised: 54.54%