11 Mar 2014
Medtecs International Corporation Limited's Acquisition
Danny Lim, Chia Lee Fong and Caitlin Huang from the Corporate & Capital Markets Practice are acting for Catalist-listed Medtecs International Corporation Limited ("the Company"), in its proposed acquisition of 3,415,432 issued and paid-up common stock (the "Sale Shares") in the capital of Medtecs (Taiwan) Corporation ("MTC") for the aggregate consideration of US$1,632,163 (or approximately S$2 million),. The Sale Shares will be acquired from Mr. Wang Wan Fa, to be satisfied by the allotment and issue of 32,643,260 new ordinary shares in the capital of the Company.
Following completion of the acquisition, MTC will become a wholly-owned subsidiary of the Company.