HatchAsia Inks Deed to Take Control of Silver Heritage Group

HatchAsia Inc. (HAI), an affiliate of DFNN Inc. (DFNN), has announced that its wholly owned Australian subsidiary, Hatch Australia Holdings Pty Ltd (HAH), has signed and executed the Deed of Company Arrangement (DOCA) to take control of Silver Heritage Group Limited (SVH), a company listed in the Australian Stock Exchange (ASX).

As previously disclosed on 28 August 2020 to the Exchange, the DOCA will be effected via the acquisition of shares equal to approximately 92% of the issued share capital of SVH through a consolidation of shares of existing shareholders and a new issue of ordinary shares for HAH. The consideration for this transaction is AUD530,000 in cash and 3% of the issued shares in SVH, subject to the terms and conditions set in the DOCA.