TEHO INTERNATIONAL INC LTD.
(Incorporated in the Republic of Singapore on 10 June 2008)
(Company Registration Number: 200811433K)
UPDATE ON ACQUISITION OF WAREHOUSING FACILITY IN TEXAS BY TEHO INTERNATIONAL (USA), LLC, A WHOLLY-OWNED SUBSIDIARY OF THE COMPANY
Unless otherwise defined or the context otherwise requires, all capitalised terms used herein bear the same meanings as in the Announcements (as defined below).
The Board of Directors (the "Board") of TEHO International Inc Ltd. (the "Company" and together with its subsidiaries, the "Group") refers to the Company's announcements dated 11 May 2021 and 29 June 2021 (the "Announcements") relating to the proposed acquisition by TEHO International (USA), LLC ("TEHO USA") of a property situated in Harris County, Texas at 9260 Bryant Street, Houston, TX 77075 (the "Property") from Bryant Street Building, Ltd. (the "Vendor") under the commercial contract dated 10 May 2021 (the "Contract") (the "Proposed Acquisition").
The Board wishes to update that the Company was informed by TEHO USA that the parties have mutually agreed to vary the terms and conditions of the Contract as follows:
-
The Purchase Consideration will be partially payable by way of cash amounting to US$462,500 by TEHO USA at Completion, with the balance sum of US$1,387,500 by way of financing obtained by
TEHO USA; - Change of Completion date to 6 August 2021; and
- Waiver of TEHO USA's right to terminate the Contract for any reason during the Feasibility Period.
Save for the above, there are no material changes to the other key terms in respect of the Proposed Acquisition.
The Company will make further announcement(s) as and when there are any material developments in relation to the Proposed Acquisition.
BY ORDER OF THE BOARD
Lim See Hoe
Executive Chairman and Chief Executive Officer
16 July 2021
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This announcement has been reviewed by the Company's Sponsor, SAC Capital Private Limited (the "Sponsor"). This announcement has not been examined or approved by the Singapore Exchange Securities Trading Limited (the "SGX- ST") and the SGX-ST assumes no responsibility for the contents of this announcement, including the correctness of any of the statements or opinions made or reports contained in this announcement.
The contact person for the Sponsor is Mr David Yeong (Tel: (65) 6232 3210) at 1 Robinson Road, #21-00 AIA Tower, Singapore 048542.