DTP Infinities Limited completed the acquisition of 3Cnergy Limited (Catalist:502 in a reverse merger transaction.
The acquisition is conditional upon the results of the due diligence investigations (including legal, accounting, financial and business due diligence) on the DTP Infinities Group conducted by 3Cnergy being reasonably satisfactory to 3Cnergy; the results of the legal, financial and technical due diligence investigations on the Group conducted by the Seller and its advisors, in connection with the listing of the DTP Group on the Catalist Board by way of a reverse takeover of 3Cnergy, being reasonably satisfactory to the Seller; approval of shareholders of 3Cnergy at an EGM to be obtained for the proposed acquisition, the allotment and issue of consideration shares, the change of name of 3Cnergy to such name notified in writing, the appointment of directors in accordance with the terms of the SPA, the share consolidation exercise to be undertaken by 3Cnergy, at a consolidation ratio of 100:1, the change in the core business of 3Cnergy to include the business of the DTP Group and other matters; all regulatory approvals necessary for the business of DTP Group having been obtained; all necessary approvals from all relevant third parties having been obtained; the approval of the SGX-ST and the issuance of a listing and quotation notice from the SGX-ST for the admission of the Consideration Shares; the issuance by SG&R Singapore Pte Ltd of the independent business valuation report on DTP Group; completion of Net Debt Statement with the Seller preparing a statement setting out the net debt of the DTP Group; completion of the liquidation or disposal of all of its business by 3Cnergy carried on prior to the date of agreement including liquidation of 3Cnergy Sdn Bhd and the disposal for cash of Orientis Solutions Sdn Bhd and 3C Property Consultants Pte Ltd and others. 3Cnergy?s controlling and substantial shareholders, representing approximately 80.2% of the share capital, have granted irrevocable and unconditional undertakings to vote in favour of the proposed acquisition. The transaction will close on the date falling five Business Days after the date of the satisfaction or waiver of the last of the conditions precedent. PrimePartners Corporate Finance Pte. Ltd (PPCF) acted as 3Cnergy?s financial advisor and full sponsor in respect of the acquisition. Upon closing, 3Cnergy shall issue and allot 1.97 million new ordinary shares in the capital of 3Cnergy to PPCF in partial settlement of their fees.
DTP Infinities Limited completed the acquisition of 3Cnergy Limited (Catalist:502) in a reverse merger transaction on January 23, 2024.