Information on BXL Sample Clauses

Information on BXL. BXL is a wholly-owned subsidiary of the Company incorporated and existing under the laws of Singapore. The principal activities of BXL are those of event organisation and promotion as well as business and management consultancy services. BXL was originally acquired by the Company from TSY on 15 April 2019 for a total of 1,861,111,111 ordinary shares (the “Consideration Shares”) issued out of the capital of the Company (“Shares” and each a “Share”) at an issue price of S$0.0018 per Share and 310,185,185 warrants (“Warrants” and each a “Warrant”) convertible into Shares at an exercise price of S$0.0018 per Warrant. Please refer to the Previous Announcements for more details on the Acquisition. Based on the unaudited financial statements of the Group as at 30 September 2020, the book value of BXL recorded in the Group’s balance sheet was approximately S$3,831,000 and the net tangible asset (“NTA”) value and net loss of BXL were approximately S$278,000 and S$179,000.
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