Friday, August 16, 2013

Peter Lim's investment firm gets nod for $545m in deals

Published on Aug 16, 2013

By Rachael Boon

BILLIONAIRE Peter Lim's investment company Rowsley has received regulatory approval for
two deals valued at up to $545 million that will launch its diversification into the real
estate business.

The Singapore-listed firm said yesterday that the Singapore Exchange (SGX) has given in-
principle approval for the proposed acquisition of RSP Architects Planners & Engineers
for up to $187 million and a 9.23ha plot of land in Iskandar, Johor, for up to $358

The deals were signed in February.

Rowsley will pay architecture firm RSP by issuing up to 1.25 billion Rowsley shares at 15
cents a share.

It will also issue 2.4 billion shares to pay for the land in Iskandar.

The land is a part of Vantage Bay, which is owned by the eponymously named 70-30 joint
venture between Mr Lim and the Johor royal family.

In a related move, Rowsley will issue a free bonus of two warrants for every existing
share held by shareholders, which was also approved by SGX.

The company will have to hold an extraordinary general meeting to get shareholders'
approval for the two deals and the proposed bonus issue at a later date.

Rowsley's shares closed a cent lower at 42.5 cents yesterday.

1 comment:

  1. Peter Lim's Rowsley creates money out of thin air, despite Lee Kuan Yew's warning