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BRIEF-Technics Oil & Gas Entered MoU With Certain Parties To Explore Corporate Restructuring

Reuters SG

Jan 22 (Reuters) - Technics Oil & Gas Ltd:

* ENTERED INTO MOU WITH CERTAIN PARTIES SEEKING TO EXPLORE A CORPORATE RESTRUCTURING

* STRUCTURE FOR PROPOSED DEAL WOULD INVOLVE TRANSFER OF CO'S LISTING STATUS ON SINGAPORE MAIN BOARD TO INVESTOR GROUP

* DEAL FOR S$3 MILLION

* STRUCTURE FOR PROPOSED DEAL INVOLVES TRANSFER OF CO'S LISTING STATUS ON SGX-ST TO INVESTOR GROUP BY A SCHEME OF ARRANGEMENT

* CONSIDERATION FOR TRANSFER TO BE SATISFIED BY ISSUE OF NEW SHARES IN CAPITAL OF INVESTOR GROUP TO CREDITORS & SHAREHOLDERS OF CO Source text for Eikon: Further company coverage: