Beng Kuang Marine: Completes Acquisition of the Remaining 49% of the issued and paid-up share capital of Asian Sealand Offshore and Marine Pte. Ltd. (“ASOM”)
• ASOM became a wholly-owned subsidiary of Beng Kuang Marine following the transfer of the Sale Shares on 28 May 2026.
• The Company allotted and issued 57,142,856 new ordinary shares at an issue price of S$0.35 per share pursuant to the Share Purchase Agreement.
• Following the issuance of the consideration shares, the Company’s total issued share capital increased from 242,534,698 shares to 299,677,554 shares.
• ISUSTAINABILITY PTE. LTD. and SPPG PTE. LTD. each became substantial shareholders of the Company, holding approximately 9.5% of the enlarged issued share capital.
• The remaining cash consideration of S$20.0 million is expected to be completed on 29 May 2026, following which the Company will make a further announcement on the full completion of the proposed acquisition.
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