Le Lézard
Classified in: Business
Subject: TNM

Retail Holdings N.V. Announces Sale Of Remaining Stake In Singer Sri Lanka



WILLEMSTAD, Curacao, Oct. 15, 2018 /PRNewswire/ -- Retail Holdings N.V. (Symbol: RHDGF) -- Retail Holdings N.V. (Retail Holdings together with its subsidiaries the "Company") announced today, the sale of its remaining approximately 9.5%, equity stake in Singer (Sri Lanka) PLC ("SSL"). A controlling stake in SSL was sold to Hayleys PLC, a major Sri Lanka conglomerate, in September 2017. The Company at that time, retained 35,562,883 shares in SSL, subject to a Put option. Following the successful transition at SSL, the Company, consistent with its long-term strategy, has elected to exercise the Put. The sale was at the Put strike price of Rs 47 per share, yielding proceeds of approximately Rs 1,671 million, equivalent to approximately $9.5 million.

About Retail Holdings

Retail Holdings N.V. is a holding company with one principal asset, a 54.1% equity interest in Sewko Holdings Limited ("Sewko"), the parent company of Singer Asia Limited, a distributor of consumer durable products through public subsidiaries in Bangladesh and India. Retail Holdings N.V. has no other operating activities other than those carried out through Sewko/Singer Asia. Additional financial and other information about Retail Holdings N.V. may be found at the Corporate/Investor section of the Company's website: www.retailholdings.com. Price quotations for the Company's shares are available on the "Pink Sheets" quotation services under the symbol "RHDGF".

INFORMATION CONTACT
Amy Pappas (914) 241-3404

SOURCE Retail Holdings N.V.


These press releases may also interest you

at 00:30
DirectBiologics, LLC announces the acquisition of Paisley Laboratories, LLC. The mission of these combined research and development companies is to transform regenerative healing with an emphasis on improved patient care. Direct Biologics is focused...

16 nov 2018
MedMen Enterprises Inc. ("MedMen" or the "Company") announces that, further to its press release dated November 9, 2018 announcing a $120 million bought deal financing (the "Financing"), the Company has agreed with Canaccord Genuity Corp....

16 nov 2018
SINGAPORE, Nov. 16, 2018 /PRNewswire-PRWeb/ -- ASEAN Impact Challenge is a regional program to discover innovators and entrepreneurs from Southeast Asia who are accelerating the achievement of the Sustainable Development Goals through cross-sector...

16 nov 2018
Kahn Swick & Foti, LLC ("KSF") and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until January 8, 2019 to file lead plaintiff applications in a securities class action lawsuit against...

16 nov 2018
Kahn Swick & Foti, LLC ("KSF") and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until January 7, 2019 to file lead plaintiff applications in a securities class action lawsuit against Ribbon...

16 nov 2018
On the afternoon of November 15th, the closing ceremony of the 2018 China Merchants Group "Building Blue Dreams - 21st Century Maritime Silk Road Training Program" (Referred as "C Blue Training Program") was held at the China Merchants Port Building...




News published on 15 october 2018 at 10:33 and distributed by: