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IPO 17 Dec 2014
20 Jan 2015
Today is a blessed and happy day for 8I Holdings (ASX:8IH) and Hemus Pacific's management and all shareholders. We have signed the sale and purchase for our first aquisition one month after our IPO to move one step closer to our grand vision.
Unstoppable Momentum!
ASX ANNOUNCEMENT / MEDIA RELEASEFor Immediate Release
8I Holdings Limited (ASX:8IH) Acquisition of Hemus Pacific20 January 2015 Singapore
8I Holdings (ASX:8IH) (“the Company”) advises that it has entered into a Sale and Purchase Agreement to acquire 51% of Hemus Pacific Private Limited (“Hemus”) , for S$2,448,000.
Hemus is a successful property and events management business that has been operating in Singapore since 2005, with audited FY2013 revenue in excess of S$4,500,000.
The acquisition of Hemus will provide the Company with access to retail properties and events operated by Hemus. These properties are typically located in retail shopping centres and mass transit interchanges with very high foot traffic. The company specialises in operating promotional events in these locations, which can be synergised to provide 8IH with ongoing opportunities to attract enrolments for its financial education seminars and courses.
Hemus operates as a master property manager for many locations in mass transit terminals and has close working relationships with SBST and SMRT. The Company anticipates that relationships with these clients will provide 8IH with access to future property co- development and investment opportunities with prominent real estate owners and developers.
Executive Chairman, Mr Ken Chee commented “We are very pleased to be able to acquire 51% of Hemus and add it to our 8I group. Hemus has significant synergies with the group, including the education and property investment divisions of 8IH. In addition to driving both sales revenue and profitability for the group, the exposure to further real estate opportunities is of great value. We are excited that founders Seah Sok Hong and Lim Ming Shen are retaining 49% of Hemus and look forward to working with them to continue the growth of Hemus and 8IH.”
24 Jan 2015
http://www.millionaireinvestor.com/...ting-summit-2015-from-january-24th-25th-2015/