News / ニュース

Aug 23, 2021
Non-binding term sheet signed with SGX-listed Chaswood for expected RTO

On Thursday, August 19, 2021, 3DOM Inc. (headquarters: Kanagawa-ku, Yokohama City, Kanagawa Prefecture, Japan; “3DOM” hereinafter) entered into a non-binding term sheet with Chaswood Resources Holdings Ltd.※1 (headquarters: Malaysia; “Chaswood” hereinafter) 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. (headquarters: Singapore; “3PL” hereinafter). This acquisition is expected to result in a reverse takeover (“RTO”)※2 of the listed company. The objective is to strengthen 3PL’s presence and raise funds from the Catalist market.

Chaswood is to acquire the entire issued and paid-up share capital of 3PL for 70% of 3PL’s valuation by an independent valuer to be appointed by Chaswood. As an agreed upon term, 70% of this valuation shall not be lower than US$1 billion.

The acquisition consideration will be paid via the issuance of Chaswood shares at US$0.028 per share.

For details, please refer to the announcement released by Chaswood on August 19, 2021.

 

※1 CHASWOOD (CHASWOOD RESOURCES HOLDINGS LTD.):
Company Name: CHASWOOD RESOURCES HOLDINGS LTD.
Address: Lot 242, 2nd Floor, The Curve 6 Jalan PJU 7/3 Mutiara Damansara Petaling Jaya, 47800 Malaysia
Capital: US$5.8 million equivalent
Representative: Andrew Roach Reddy, Managing Director/Executive Director
Website: www.chaswood.com.my

※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 Listing Manual of the Singapore Exchange Catalist Market (Listing Manual Section B, Chapter 10).

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