Pristine Islands is a company incorporated in Singapore in 2023. It is mainly in the business of investment holding. The company owns a subsidiary incorporated in the Republic of Maldives, which in turn undertakes hotel and resort operations and airport management in the Maldives. The company was established to undertake the expansion, development and operation of a domestic airport, a tourist hotel and a tourist resort.
BRC Asia has accepted a binding offer made by E Street Capital on Dec 29, 2023, to sell all of the 1.7 million ordinary shares it owns in Pristine Islands Investment. The offer by E Street Capital also includes the assignment of all of the shareholders’ loans that were extended by BRC Asia (SGX:BEC
) to Pristine.
Under the terms of the offer, E Street Capital will pay BRC Asia US$1.3 million ($1.8 million) for the shares and US$12.7 million for the sale loan.
