This is because the conditions stipulated in the agreements entered into were not fulfilled or waived as at the long-stop date of Dec 21. The agreements have “therefore lapsed” and the company will be retrieving its refundable deposit of $5 million.
Ascent Bridge, formerly known as AEI Corp, says its proposed acquisitions with Octopus Global Holdings Pte. Ltd. (OGHPL) and Octopus Investment Pte. Ltd. (OIPL) are not going through.
OGHPL and OIPL are mainly in the business of the distribution of alcoholic and non-alcoholic drinks and liquor in Singapore and Malaysia.
