Food Empire Holdings says the company’s wholly-owned subsidiary, Future Investment Holdings has incorporated a joint venture company with Holding Investimenti Industriali S.r.l. to produce and market capsules for coffee and other beverages.
The JV Co. will have a registered capital of EUR 200,000 ($315,381). It will also have an initial issed and paid-up capital of EUR 60,000 comprising EUR 29,400 or 49% of the share capital issued to FIHPL and EUR 30,600 or 51% of the share capital issued to Holding Investimenti Industriali S.r.l.
The balance Euro 140,000of the registered capital in the JV Co. will be paid up by the shareholders in proportion to their respective shareholdings in due course.
Food Empire says the transaction was funded through internal resources and is not expected to have any material impact on the consolidated net tangible assets and earnings per share of the group for the current financial year.
Food Empire closed flat at 11.4 cents.
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The JV Co. will have a registered capital of EUR 200,000 ($315,381). It will also have an initial issed and paid-up capital of EUR 60,000 comprising EUR 29,400 or 49% of the share capital issued to FIHPL and EUR 30,600 or 51% of the share capital issued to Holding Investimenti Industriali S.r.l.
The balance Euro 140,000of the registered capital in the JV Co. will be paid up by the shareholders in proportion to their respective shareholdings in due course.
Food Empire says the transaction was funded through internal resources and is not expected to have any material impact on the consolidated net tangible assets and earnings per share of the group for the current financial year.
Food Empire closed flat at 11.4 cents.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
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