News / ニュース

Nov 18, 2021
Non-binding term sheet signed with SGX-listed Reenova Investment for expected RTO

 On November 16, 2021, 3DOM Inc. (“3DOM”) entered into a non-binding term sheet with Reenova Investment Holding Limited※1 (“Reenova”), an SGX Mainboard listed company, in relation to the proposed acquisition of the entire issued and paid-up share capital of 3DOM’s wholly-owned subsidiary 3DOM (Singapore) Pte. Ltd. (“3PL”). The proposed acquisition is expected to result in a reverse takeover (“RTO”)※2 of Reenova. The objective is to strengthen 3PL’s presence and raise funds from the SGX Mainboard market.
 Reenova is to acquire the entire issued and paid-up share capital of 3PL for between 75% and 80% of 3PL’s valuation by an independent qualified valuer, which shall not be lower than US$1 billion (equivalent to approximately S$1.36 billion). The acquisition consideration will be paid via the issuance of Reenova shares at a pre-consolidation issue price of S$0.0075 per share.
 For details, please refer to the announcement released by Reenova on November 17, 2021.

 Following the previously announced non-binding term sheet with Chaswood Resources Holdings Ltd.※3 (“Chaswood”) dated August 19, 2021 in relation to the proposed acquisition of 3PL by Chaswood, 3DOM had entered into a Sale and Purchase Agreement (“SPA”) and Convertible Loan Agreement (“CLA”) with Chaswood on November 5, 2021. However, as of November 15, 2021, 3DOM and Chaswood mutually agreed to terminate both the SPA and CLA due to differences in perspectives and approaches in regard to the implementation of the proposed acquisition.
 For details, please refer to the announcement released by Chaswood on November 15, 2021.

※1 Reenova Investment Holding Limited:
Address: 60 Paya Lebar Road, #10-16 Paya Lebar Square, Singapore 409051
Representative: Chen Tong, Executive Chairman
SGX Stock Code: 5EC
Website: www.reenovagroup.com

※2 Reverse Takeover (RTO):
A method by which an unlisted company can be listed through acquisition by or merger with a listed company, as set forth in the SGX Mainboard Rules (Chapter 10, Part VIII).

※3 Chaswood Resources Holdings Ltd.:
Address: Lot 242, 2nd Floor, The Curve 6 Jalan PJU 7/3 Mutiara Damansara Petaling Jaya, 47800 Malaysia
Representative: Andrew Roach Reddy, Managing Director/Executive Director
SGX Stock Code: 5TW
Website: www.chaswood.com.my

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