News and Announcements
8i Holdings Ltd Sells 8VIC Global & Acquires Interest in Digimatic Group
- Published December 01, 2017 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
KEY TAKEAWAYS:
- 8VIC Global Pte Ltd successfully sold by 8I Holdings Limited to Digimatic Group in exchange for nearly 1.5 billion shares.
- 8I Holdings shareholders have approved completion at A$0.042 per share.
- 8I Holdings becomes the holding company for the Digimatic Group.
8I Holdings Limited (ASX: 8IH) a public listed company in Australia, revealed that it has successfully completed the sale of the Company’s 95% holdings in 8VIC Global Pte Ltd to the Digimatic Group Limited (ASX: DMC) amounting of 1,448,955,200 pre-consolidated DMC shares via a reasonably issued price of A$0.042 per share, with the approval of the transaction by the shareholders.
Hence the negotiation has the scope on the following vital information included such as the transfer of 2,148,421 ordinary shares in 8VIC Global from 8IH and Glorymont Ltd., and the granting of 1,525,216,000 known as the pre-consolidated DMC CHESS Depositary Interests (CDIs) representing 70% of the vast share capital of DMC. The breakdown of details for the aforesaid consideration shares refers to the valued 8IH’s pre-consolidated share of 1,448,955,200 at 66.50% and Glorymont of 76,260,800 at 3.50% enlarged share capital. Currently resulting in a concluded total number of 1,525,216,000 Consideration Shares at 70%.The further outcome of the significant completion heads towards 8IH befitting as the holding company for Digimatic Group Limited.
Digimatic Group Limited (DMC) steadily acts as Singapore’s leading specialists in performance-based marketing, creative consulting, directing affiliate market network for the past ten years. Growth was driven with the continuous improvisions in the Advertising Technology commonly known as “Adtech”. Through the aforesaid consolidation of DMC into the group, 8IH outlines the significant cohesive optimization in the accumulation of the ready cash on hand by S$11.1 million as well as S$11 million up to standards.
About 8i Holdings Limited
8i breaks the main barriers to creating compelling 3D media content at scale — quality, time and cost. 8i holographic is a groundbreaking system for recording video and translating it into highly realistic, genuinely 3D digital content. The process is dramatically faster and an order of magnitude less expensive than computer animation.
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