16 March, 2018
ZICO Insights Law LLC is advising Huan Hsin Holdings Ltd (the “Company”), a Singapore-listed telecommunications and electronics manufacturer, regarding its proposed acquisition of 99.99% of the equity interest in Huangshan Zhongtian Weiliang Mining Co., Ltd. (黄山中天伟良矿业有限公司) for an aggregate consideration of S$1.06 billion by way of reverse takeover.
The initial cut-off date for the Company to satisfy the requirements under Rule 1314 of the Listing Manual was 4 March 2018, following which the Singapore Exchange Securities Trading Limited (the “Exchange”) could have either delisted the Company, or suspended the trading of the Company’s securities with a view to delisting the Company.
ZICO Insights Law played an essential role in a successful 11th-hour application to the Exchange informing it of the Company’s plans to carry out the Proposed Acquisition. This culminated in the Exchange granting the Company a conditional extension of time to 4 March 2019 to satisfy Rule 1314’s requirements. The ZICO Insights Law team on the deal is led by Yap Lian Seng and Dr Qiu Yang.
