Nordic Group Ltd announces proposed acquisition of 7.76 pct interest in PSL Holdings Limited

Nordic Group Ltd:Enters into sale and purchase agreement to acquire from RES Holdings Pte. Ltd. 30,000,000 ordinary shares representing about 7.76 pct of the issued share capital of PSL Holdings Limited.Vendor is controlling shareholder of PSL and holds about 19.4 pct of issued share capital of PSL.Aggregate consideration for proposed acquisition is S$9,000,000, being S$0.30 per PSL share.Consideration shall be fully paid in cash on completion of the Proposed Acquisition.Says it will fund the Proposed acquisition with a combination of bank borrowings and Company’s internal resources.

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