Under the SPA, Ng and, or Dong Ling will “provide the necessary financial assistance” to Arion for its working capital needs.
Arion Entertainment’s (SGX:YYB
) executive director, Ng Kai Man, has sold his entire stake amounting to 20.75% of the total shares in the company to Dong Ling Electrical Group via a share purchase agreement (SPA) on March 21.
The stake, representing 193.8 million shares, was sold for a consideration of $2.9 million.
