EuroSports Global is undergoing a strategic review to explore options for its various businesses, with an eye on unlocking value and to drive further growth.
The company, whose executive chairman and CEO is Melvin Goh (picture) started in the distribution of luxury cars. It is also providing after-sales servicing and sales of parts and accessories.
Over the last couple of years, it has diversified into the development of a premium electric motorcycle under the Scorpio Electric brand.
According to the company, the review is “timely” and will assess various options including potential fundraising exercises; restructuring of various subsidiary companies by way of spin-off listings of their own or as de-spac targets.
“Shareholders should note that there is no assurance that any transaction will materialise from the strategic review or that any definitive or binding agreement will be reached,” says the company.
EuroSports Global last traded at 17 cents, valuing the company at around $42 million.
