The Board of Directors of Millepede International Limited (MPD) is pleased to announce that the Company has entered into a non-binding Memorandum of Understanding with Cool D’Fine Pte Ltd. CDF and its group companies are one of the leading providers of marine and offshore heating, ventilation and air -conditioning (HVAC), refrigeration and mechanical ventilation systems in the Asia Pacific region. They are contractors specializing in marine HVAC projects and related product sale for the marine, offshore oil & gas industries.
The purchase consideration for the Proposed Acquisition based on a willing-buyer-willing-seller basis, shall be an amount equal to approximately A$14 million. The Purchase Consideration shall be satisfied by the issue of that number of post consolidation shares in the capital of the Company to the Vendors that is equal in value to the Purchase Consideration, determined on a pre -consolidated issue price of A$0.008 each which is thereafter consolidated on the same basis that other shares in the capital of the Company are consolidated with shareholder approval, so that they are deemed fully paid at an issue price of at least 20 cents each.
CDF and its group companies are one of the leading providers of marine and offshore heating, ventilation and air-conditioning (HVAC), refrigeration and mechanical ventilation systems in the Asia Pacific region. They are contractors specializing in marine HAVC projects and related product sale for the marine, offshore oil & gas industries. The company excels in marine HVAC system design, fabrication and installation for a variety of applications (FPSO/FSO conversions, drill barges, drill ships, inland barges, submersible rigs, tugboat and all kinds of ocean going vessel, etc). It performs turnkey solution and handles the entire HVAC system installation, maintenance, repair and conversion. Being the leading HVAC specialist for marine offshore oil and gas industry, CDF has experienced growth in the past 12 years, and has become one of Asia- Pacific’s industry leaders with offices in Singapore, China, Malaysia and Indonesia.
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