LINK HOLDINGS (08237) has announced that following their appointment, the joint liquidators assumed control of Silverine and initiated a systematic process for the sale of its assets. A binding offer was received on November 18, 2025. After evaluating multiple bids, the joint liquidators accepted an offer on December 5, 2025, for the acquisition of all shares in HHI and LHI held by Silverine. Representing Silverine, the joint liquidators entered into a share purchase agreement dated December 24, 2025, with an independent third party, subsequently amended on December 29, 2025, and January 2, 2026. This agreement concerned the sale of the shares by Silverine for a consideration of SGD 115 million. The company was recently informed by the joint liquidators that the compulsory sale was completed on January 2, 2026. The net proceeds ultimately available for distribution to the company as a shareholder are contingent upon the outcome of the appeal in the Singapore litigation related to the 2023 financing agreement and after settling all liabilities and other claims with statutory or legal priority. The decision regarding the sale, including its timing, structure, and terms, was made by the joint liquidators under the statutory powers granted by the BVI court order and did not require approval from the respective boards of Silverine or the company. The compulsory sale was executed by the joint liquidators pursuant to the BVI court order, and the group had no authority to take contrary action. The company has been advised that the compulsory sale is part of Silverine's asset realization process conducted under the applicable liquidation framework.
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