It proposes to acquire RSP Architects Planners & Engineers Ltd. (RSP Group), a leading architectural firm in Singapore, and a 9.23-hectare waterfront land site (Vantage Bay) in Iskandar Malaysia. After these acquisitions, existing Rowsley shareholders would receive two free bonus warrants (exercise price of S$0.18) for every share.
After completing the deal, major shareholders of Rowsley would include well-known businessman Peter Lim (38.73%) and RSP Group Chairman Albert Hong (12.21%).
On last Thursday, Rowsley reported that it has received approval inprinciple from the SGX for the proposed deal, and will dispatch a circular and convene an EGM in due course. We also note that, on 2 Aug 2013, management announced that “barring unforeseen circumstances, the deal should complete in the