Acclime was instrumental in providing information during due diligence checks by SYME’s legal team, co-ordinating with founders, existing shareholders, and buyer (SYME), keeping the founders updated on the step-by-step progress, drawing up the paperwork and submitting the necessary filings with ACRA as required under tight deadlines and the entire process was completed in July 2021.
Acclime also provided company secretarial support during a 3-step company restructuring, prior to the sale to SYME which included planning and execution for new shares allotment and share transfers amongst the existing shareholders of the company.
The new owner SYME is based in the UK, the founders (i.e. management team) and Directors are based in Singapore. With flexible working hours support, Acclime was able to accommodate communication and process flow across time zones.
Support in Due diligence checks was provided by the Acclime team for SYME’s legal team – instrumental in establishing a comprehensive data room for the corporate information, responding to requests, orderly documentation
The Acclime team was a contact point for founders, management and SYME for corporate governance and compliances – for communications or coordinate for their internal portfolio restructuring (e.g. share transfers and share allotments); outlining Singapore corporate law context, cross-checking details in agreements.
The services provided by Acclime included:
- Corporate secretarial support in restructuring and during TradeFlow’s 100% acquisition by Supply@ME Capital plc
- Advice on the process, planning of steps to meet the targeted completion date, timely delivery of required documents and execution.
- Working with TradeFlow’s founders, management team and SYME, communication with the Board and shareholders, provide updates during completion of each step, assist and provide information for Due Diligence checks, respond to questions.
- Advice on compliance with the regulations of the Constitution, SHA, Companies Act.
- Complete ACRA and IRAS filings relating to restructuring prior to acquisition by SYME i.e. share transfers, share allotments.
- Complete ACRA and IRAS filings relating sale to SYME, compliances, related year end change filings