After the acquisition, RGD will own an effective interest of 49.73% in four coal mining companies. Prior to the deal’s completion, Draco held an effective stake of 40% in four coal mining companies while RGD held 9.73%.
Catalist-listed Resources Global Development (RGD) announced in a bourse filing on Dec 26 that it has completed the acquisition of Draco Investment Holdings for US$1($1.3) million from Southeast Earnest Investment (SEI). The purchase consideration was arrived at on a willing-seller, willing-buyer basis.
As SEI is a wholly-owned subsidiary of Deli International Resources (DIR) which holds 75% interest in RGD, the transaction is an interested person transaction under Chapter 9 of the Catalist Rules, according to an earlier Dec 24 announcement.
