SMI Vantage (SGX:Y45) has agreed to buy 3,500 shares of Whisky Cask Club, a whisky investment company, from Maureen Clement Knight for SG$3 million, according to a Wednesday filing on the Singapore Exchange.
The payment will be made by issuing 100 million new shares at SG$0.03 each. This transaction aligns with SMI Vantage's strategy to expand into the food and beverage sector, it said.
The deal will boost SMI Vantage's share capital from SG$101.8 million to S$105 million and increase total shares from 602.7 million to 706.7 million.
Completion is expected by Oct 31. Shares of the company were up 40% in recent trade.
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