Catalist-listed Imperium Crown has proposed to acquire a 51% stake in Winco Construct & Decor, an interior design and construction company, for a consideration of $51,000.
The company had entered into a conditional sale and purchase agreement (SPA) to acquire 51% of the shareholding interest in the issued share capital of a new company, which will be incorporated from the conversion of Winco Construct & Decor, a sole proprietorship, on June 27.
The transaction is a non-disclosable one under the Catalist rules as the relative figures do not exceed 5%.
The acquisition is said to be in line with Imperium Crown’s strategy to “participate in growth opportunities in the real estate sector with experienced and trusted partners in various markets”.
The consideration, which will be paid in cash, is a premium in excess of the net book value of $48,000 of Winco Construct & Decor based on its unaudited management accounts as at Dec 31, 2021.
The consideration will be funded by internal resources.
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Shares in Imperium Crown closed flat at 1.4 cents on June 27.
