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24 January 2014


Colin Ng & Partners LLP acts for Latitude Tree in a S$49 million sale of assets and capital reduction


Colin Ng & Partners LLP ("CNP") advised Catalist-listed Latitude Tree International Group Ltd. (LTIG) in the S$48.75 million disposal of all its operating subsidiaries to its Bursa-listed controlling shareholder, Latitude Tree Holdings Berhad (LTHB), being a major transaction and interested person transaction under the Catalist Rules, partly paid for by the cancellation of 186 million ordinary shares in LTIG held by LTHB under a selective capital reduction exercise, completed on 23 January 2014. Following completion of the disposal, LTIG has been re-named Brooke Asia Limited and will be pursuing the acquisition of new operating business(es) and assets. Partner Gregory Chan led the legal team from CNP, assisted by associates Dominick Ling, Andrew Ng and Seah Wei Cong. Partner Gerald Yee and associate Prakash Nair represented LTIG in the High Court application for approval of the selective capital reduction.





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