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ACQUISITION OF BARTLEY SITE
___________________________________________________________________________
1. Introduction
The Board of Directors of the Top Global Limited (the “Company”) wishes to announce that its
subsidiary company, Bartley Homes Pte. Ltd. (“BH”) (the Company, BH and the Company’s
subsidiaries are collectively known as the “Group”) has on 31 March 2012 entered into a sale
and purchase agreement (the “Agreement”) with the majority of the subsidiary proprietors
holding not less than 80% of the share values and not less than 80% of strata floor area of the
strata lots of Bartley Grove Apartment and owners of 25/27/29 Bartley Road (collectively the
“Vendors”) to acquire their residential units en-bloc (the “Property”) via a private treaty (the
“Acquisition”). The completion of the Agreement is subject to obtaining 100% of the sellers’
consent or a sale order by the Strata Titles Board (the “Order”), whichever is earlier, for the
collective sale.
The aggregate value of the consideration for the Acquisition is S$74.1 million (the “Purchase
Price”) or S$810 per square foot per plot ratio (excluding development charge). The
consideration is arrived at after arm’s length negotiations and on a willing buyer and willing
seller basis.
The Acquisition shall be funded internally and through bank loans. This Acquisition is carried
out in the ordinary course of the Group’s property investment and development business.
In accordance with the terms of purchase, a 5% deposit less the initial payment and amounting
to S$3,305,000 is to be paid to the solicitors for the Vendors, Messrs DSPP Law Corporation
(“Vendors’ Solicitors”), as stakeholders. A further sum of 5% of the Purchase Price would be
paid to the Vendors’ Solicitors within seven days from the Order or 100% sellers’ consent. The
balance 90% of the Purchase Price shall be payable on completion of the Acquisition.
2. Information on the Property
Bartley Site comprises of Bartley Grove Apartment, a single block of 25 walk-up apartments
and adjoining private land of 3 terrace houses situated on a freehold residential site in District
19, located at 9A-23D Bartley Road and 25/27/29 Bartley Road, Singapore respectively. The
Property is within walking distance to the Serangoon MRT station – the Circle Line and NorthEast Line Interchange (approximately 600 metres) and Bartley MRT station (approximately 650
metres).
F& B outlets and a host of amenities are readily available along Upper Serangoon Road,
including Nex Mall at Serangoon Central, Heartland Mall and Upper Serangoon Shopping
Centre.
Reputable educational institutions in the vicinity include Maris Stella High School, Cedar
Primary, St. Andrew’s Junior School and Paya Lebar Methodist Girls School (Primary). Also
close by are international schools like The Australian International School and the Stamford
American International School.
INCORPORATION OF AN INDIRECT WHOLLY-OWNED SUBSIDIARY IN SINGAPORE
_______________________________________________________________________________
The Board of Directors of Top Global Limited (the “Company”, and together with its subsidiaries, the
“Group”) wishes to announce that the Company’s wholly-owned subsidiary, Global Real Estate
Investment Pte. Ltd. has incorporated a wholly-owned subsidiary in Singapore, known as Bartley
Homes Pte. Ltd..
The initial issued share capital of the subsidiary is S$2.00 and its principal activity is that of real
estate development.
The above transaction is funded through internal resources and is not expected to have any material
financial impact on the consolidated net tangible assets per share and consolidated earnings per share
of the Group for the current financial year ending 31 December 2012.
None of the Directors, Controlling Shareholders or Substantial Shareholders of the Company have
any interest in the above transaction, save for their interests arising by way of their directorships
and/or shareholdings, as the case may be, in the Company.
By order of the Board
Hano Maeloa
Chief Executive Officer and Executive Director
2 April 2012
Didn't have time to monitor today but didn't mind either, clearly 1.1c has dried up and 1.3c has been touched. Very high volume today, penny rally has began. Penny can only leave you with pennies in the end but TopGlobal is risk adverse. 1.5c-2c possible this week if penny bull continues.
MDR didn't shoot up in a week, it was months even years in preparation before it shot up. JEL was deep in the red on the news of delisting hence the big difference in price, high risk high gain. I cannot speak for HLH, phantom stock to me unless you've noticed it beforehand.
TopGlobal is a safe bet with good profit margins.
Patkeane ( Date: 02-Apr-2012 16:49) Posted:
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wow lau ..... like very diffcult to pass 0.012 cents leh..........not like JEL ,MDR, HLH how i wish i have bought these 3 shares shoot like rocket......
what do you mean by that ?
Isolator ( Date: 02-Apr-2012 10:33) Posted:
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Volume indicates bullish sentiment. Start of trend reversal.
2ct Topglobal is not issue... Enjoy...
" Top Global is controlled by Madam Sukmawati Widjaja, part of the family that owns the large Indonesian conglomerate Sinar Mas Group.
She is also known as Madam Oei Siu Hua and is the younger sister of well-known investor Oei Hong Leong.
Madam Widjaja, who has been a Singaporean for some years, bought a majority stake in Top Global in March 2010.
Under her leadership, Top Global has sold off non-core businesses, and wants to focus on real estate development and services, with an emphasis on lifestyle mixed developments."
Maybe they are selling their stake to focus on other bigger growth opportunities i.e. Myanmar? Could turn out to be the next Yoma if so.
Anytime from now, it is going to blast off like MDR. .. sit back and fasten your sit belt .. .
Got Isolator blessing, huat liao
Take some attention on Topglobal.... Enjoy...
I noticed everyday good trading volume either 5000 or 10000. Usually quite near top 20 traded volume stock, today has been one if it's most active. 1.1c came from abundance into a dried lake. The next step up will be soon I reckon.
sleeping beauty zzzzzzzz.....zzzzzz dunno want to sleep how long leh.............
did anyone attend the recent AGM? please share insights!
The prospective NTA (considering capitol profits) is about 1.455 cents for the assumed issued ~10,832,000,000 shares. Company is cash rich awaiting new direction since it left it's capitol project(70 million sale, 40 million net profit). A good move considering the property risk.
Price will soar on future news and is a very safe bet. Minimum risk, maximum gain.
Strong trading volume everyday. The more i see the more i like. Only don't like to wait.
Ready to ride the next wave up?
Price moved to higher base of 1.1/1.2c. It is good news. 1.1c is the difficult to grab already. Company will do share buybacks and reward their employees with share options. This means to say that shares are an integral part of their reward system and not some pump and dump for the company to generate more funds and bleed shareholders.
Rock solid counter with 40 million net profit.
Patkeane ( Date: 23-Mar-2012 16:19) Posted:
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Top volumn but price not moving ..........zzzzz........zzzzzzz...........MISCELLANEOUS :: RESOLUTIONS PASSED AT ANNUAL GENERAL MEETING means what is it good news??