Asia Vets Holdings Proposes To Acquire AlDigi Holdings For S$45 million via Reverse Takeover

DigitalCFO Newsroom | 6 January 2022

On December 30, 2021, Asia Vets Holdings Ltd. decided to enter into a conditional sale and purchase agreement with RHT AlDigi Financial Holdings Pte. Ltd. and AlDigi Holdings Pte. Ltd.

On December 30, 2021, Asia Vets Holdings Ltd. decided to enter into a conditional sale and purchase agreement with RHT AlDigi Financial Holdings Pte. Ltd. and AlDigi Holdings Pte. Ltd. (the “AlDigi Group” or the “Target”) to acquire 100 percent of the ordinary shares in the Target’s issued and paid-up share capital from the Vendor.

The Proposed Acquisition’s S$45 million consideration will be fulfilled through the allocation and issuing of 335,436,357 new ordinary shares in the Company’s capital at an issued cost of approximately S$0.13415 per Consideration Share. The Proposed Acquisition provides an additional source of revenue and a chance to broaden the Group’s business portfolio, subject to shareholders ’ approval, among other things. The Company further thinks that the Proposed Acquisition has the capacity to boost the Company’s market capitalization and expand its investor base.

Mr Tan Tong Guan, Executive Chairman and Chief Executive Officer of Asia Vets Holdings, stated, “We have been proactively pursuing numerous acquisition options in order to maximize shareholder value and allow the Company to grow its revenue. When finalized, the Proposed Acquisition will empower us to seize opportunities in the rapidly-growing financial and technological industries, and we are optimistic about the industry’s strong long-term growth potential.”

Digital finance and technology firm RHT DigiCapital Pte. Ltd., intellectual property consultant RHT i-Assets Advisory Pte. Ltd., and capital markets advisory firm RHT Capital Pte. Ltd. are the Target’s affiliates.

The Proposed Acquisition will allow the Company to capitalize on the Target Group’s existing ongoing sponsorship and licensed corporate finance business to create new digital solutions that will serve both conventional and digital finance markets.

AlDigi Group Chief Executive Officer Jayaprakash Jagateesan stated, “We’ve formed a fintech platform to redefine the financial markets and make them the entry point to a wide range of digital assets and investments. It’s based on a dedication to improving efficiency, connectivity, and providing equal opportunity in financial markets as well as alternative investments. With a concentration on real estate, non-fungible tokens, and environmental, social, and governance investments, the Proposed Acquisition will expedite our ambitions to create new creative solutions to harness the rapidly-growing digital security token economy.”

The Group will continue to own and run its veterinarian business after the Proposed Acquisition is completed.

About Asia Vets Holdings Ltd.

Asia Vets Holdings Ltd., through its wholly-owned subsidiary, AVH Animal Ark Pte. Ltd., provides veterinary care and clinical services to small animals in Singapore.

The Group currently operates two veterinary clinics providing a full range of general veterinary services including medical, surgical and dental care for small animals and after-hours emergency services.

About AlDigi Holdings Pte. Ltd.

The AlDigi Group combines proven expertise and deep experience across capital markets, blockchain technology and intellectual property to deliver next-gen digital finance solutions through the following subsidiaries/ proposed subsidiaries:

  • RHT Capital
  • RHT DigiCapital
  • RHT i-Assets Advisory

The AlDigi Group leverages its proven proprietary institutional grade technology to deliver digital asset solutions across multiple asset classes and sought-after alternative investment products. As part of the ONE RHT ecosystem of multidisciplinary professional services, the AlDigi Group has access to a wide range of expertise including sustainability to add value to its digital asset solutions.

Source: ACN Newswire