Le Lézard
Classified in: Health, Science and technology, Business
Subjects: CON, ACC

The Trendlines Group Receives SGD10.88 Million (USD8 million) Investment


MISGAV, Israel, July 22, 2019 /PRNewswire/ -- The Trendlines Group Ltd. ("Trendlines") (SGX: 42T) (OTCQX: TRNLY) today announced that it has signed a Subscription Agreement with Librae Holdings Limited ("LH"), for an SGD10.88 million (USD8 million) investment.

London-based discretionary beneficiary to the trust that is sole shareholder of LH, Mr. Vincent Tchenguiz, is best known for his multi-billion-pound real estate portfolio. In the past three years, he has diversified his investments with increased focus on biotechnology and planet related technologies and built a USD350 million technology venture capital portfolio managed by a strong tech investment team1. Many of his investments are in incubators, venture funds, and several medical companies in Israel.  

"Trendlines' history of developing early-stage companies, combined with its hands-on investment policy and the potential of its 53 portfolio companies, makes it an attractive investment with significant potential," notes Tchenguiz. "We believe in Trendlines' business model and are convinced that this represents a great opportunity." He also noted that "today our investments are focused on Europe, Israel, and the United States, but we have been looking at Singapore as a target for a long time, and we view Trendlines as an avenue into that important market. We believe we could provide new markets for the underlying companies and very much like the concentration in AgriTech and medical devices that fit on developing financial model both in health care and planet eco system which includes Agritech/ food tech and cleantech."

Trendlines Chairman and CEO Todd Dollinger commented on the investment, "We are very excited to have LH join us as a shareholder. Their numerous life science investments in Israel and around the world make them more than a financial investor, but an investor with the ability to provide strategic value to Trendlines."

LH will purchase 103.6 million new ordinary shares in the capital of Trendlines, representing about 14.55% of the enlarged share capital of Trendlines following the placement.  LH will purchase the shares at a price of SGD0.105 per share and for total consideration of SGD10.88 million (USD8 million at the exchange rate of USD1.00 = SGD1.360).

About The Trendlines Group

Trendlines is an innovation commercialization company that invents, discovers, invests in, and incubates innovation-based medical and agricultural technologies to fulfill its mission to improve the human condition. As intensely hands-on investors, Trendlines is involved in all aspects of its portfolio companies from technology development to business building. Trendlines' shares are traded on the Singapore Stock Exchange (SGX: 42T) and in the United States as an American Depositary Receipt (ADR) on the OTCQX (OTCQX: TRNLY).

Forward Looking Statement

Statements in this press release that are not statements of historical or current fact constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause the Company's actual operating results to be materially different from any historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements that explicitly describe these risks and uncertainties, readers are urged to consider statements that contain terms such as "believes," "belief," "expects," "expect," "intends," "intend," "anticipate," "anticipates," "plans," "plan," to be uncertain and forward looking. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the Company's filings with the Securities and Exchange Commission.

References:

1 https://www.ft.com/content/1bce0ee6-2624-11e9-8ce6-5db4543da632

Investor Contact Information

Israel:
Shira Zimmerman, The Trendlines Group
shira@trendlines.com
Tel: +972.72.260.7000

Singapore and China:
Reyna MEI, Financial PR
reyna@financialpr.com.sg 
Tel: +65.6438.2990

 

SOURCE The Trendlines Group


These press releases may also interest you

at 23:23
Itiviti, a leading technology, and service provider to financial institutions worldwide, today announced that Vivienne Court Trading (VivCourt), an Australia-based, socially conscious investment firm has extended the use of Itiviti's trading...

at 22:41
Fox Corporation today confirmed that Credible Labs Inc.'s ("Credible") stockholders overwhelmingly voted in favour of Fox Corporation's proposed acquisition of 67% of the equity of Credible. Credible stockholders voted at a special meeting held...

at 22:37
First Bancorp , the parent company of First Bank, reports the loss of its beloved long-time former CEO Jimmie Garner, who passed away on October 13, 2019. Mr. Garner joined First Bank in 1969 and served the bank in various roles for 37 years. In...

at 21:00
John Ryan PREC is consistently Whistler's top-selling realtor; in the history of Whistler real estate, no one has sold more than John. Known as an authority in the Whistler real estate market in terms of knowledge, understanding, and performance he...

at 21:00
SimpleShowing, an Atlanta based real estate technology startup announced that it has raised $1M to further develop its home buying and selling platform. As the millennial home buying population continues to grow, an increasingly large percentage of...

at 20:05
Hagens Berman alerts Vivint Solar, Inc. investors to a recently filed securities class action against the Company. The firm urges VSLR investors who have suffered significant losses to submit a loss form now to learn if they qualify to recover their...



News published on 22 july 2019 at 08:28 and distributed by: