Things are moving in the right direction including a steady stream of new listings.
A lot of potential here.
It will be interesting to see if Major Holdings go ahead with a 13.42 % purchase of this company and if so at what price?
180 days ends around the 20th of next month
The board of directors (the “Board”) of the Company is pleased to announce that on 11 October 2016 (after trading hours), the Company, as purchaser, entered into a non-legally binding letter of intent (the “LOI”) with a vendor (the “Vendor”, together with the Company, the “Parties”) in relation to the possible acquisition (the “Possible Acquisition”) of 13.42% issued share capital of a company (the “Target Company”) (the “Sale Shares”). The principal activity of the Target Company is the operation of stock exchanges that provide facility for, among others, the listing of equity securities, corporate debt and investment scheme units. To the best of the knowledge, information and belief of the directors of the Company, having made all reasonable enquiries, the Vendor is a third party independent of the Company and its connected persons (as defined under the Listing Rules) as at the date of this announcement. Due Diligence The Vendor shall procure that the Company and its advisers are given access to the offices, properties, books and records and employees of the Target Company and its subsidiaries (if any) in conducting due diligence review on the business, legal and financial aspects of the Target Company (including its subsidiaries (if any)). The Company shall conduct the due diligence review during the Exclusivity Period (as defined below). The Parties may through negotiations, extend the Exclusivity Period to be agreed between the Parties. – 2 – Exclusivity Period The Vendor and persons acting in concert with it shall not negotiate with or solicit offers from any other parties in relation to the acquisition or disposal of the Sale Shares within 180 days from the date of the LOI (or such other dates as may be agreed by the Parties) (“Exclusivity Period”). In the event that the Parties do not enter into any binding agreement for the Possible Acquisition after the expiry of the Exclusivity Period, the LOI shall lapse and all obligations of the Parties shall cease
NSX Price at posting:
21.0¢ Sentiment: Buy Disclosure: Held
