Alacrity Investment Group is Oceanus’ Largest Shareholder Following $3.2 Million Married Deal

Alacrity Investment Group is Oceanus’ Largest Shareholder Following $3.2 Million Married Deal

SINGAPORE (June 26): Alacrity Investment Group has become the largest shareholder in Oceanus Group following a married deal earlier today.

Alacrity Investment Group, an existing major shareholder, paid $3,208,913 for 1,782,729,444 shares. That works out to an average of 0.18 cent each. It now owns 3,532,729,444 shares, or 14.54%, up from 7.2% previously.

The price Alacrity paid is at a significant discount to Oceanus’ closing price of 0.4 cents today.

Alacrity, part of an Indonesian conglomerate, bought the stake via a married deal from Oceanus’ former major creditor cum largest shareholder, Ocean Wonder International Limited (OWIL).

Alacrity plans to work with Oceanus to expand its aquaculture businesses.

According to Oceanus’ FY2019 annual report, as at May 29, OWIL held 19.7% of the company. Peter Koh, the CEO, held 10.23%.

Oceanus last went through a successful restructuring in 2017 under its Koh. Since then, it has established four growth pillars – Aquaculture, Distribution, Services, and Innovation.

The group’s revenue more than doubled to RMB49.0 million (S$9.6 million) in FY2019 from RMB 20.7 million in FY2017.

On June 15, Oceanus was granted an extension to exit the Singapore Exchange (SGX)’s watch list by Mar 1, 2021.

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