LMS Compliance acquires 75% stake in Anchor Technology Holdings

ACC HK is now a 75%-owned indirect subsidiary of the company.

LMS Compliance Ltd. has completed its acquisition of a 75% equity stake in Anchor Technology Holdings Co., Limited (ACC HK), a food certification and registration services provider.

According to a bourse filing, ACC HK is now a 75%-owned indirect subsidiary of the company.

Under the terms of the sale and purchase agreement, the first tranche of the purchase consideration has been satisfied by a cash payment of $1.08m (US$816,373) and the issuance of 9.46 million new ordinary shares of the company at $0.42 per share.

The aggregate value of the consideration shares amounts to $3.97m (US$3m) and represents approximately 8.3% of the company’s enlarged issued and paid-up share capital.

The first tranche, comprising the aforementioned cash payment and the consideration shares, accounts for approximately 84.5% of the total purchase consideration for the acquisition of ACC HK.

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia