Ellipsiz (SGX:BIX) subsidiary, ISE Foods (IFH) entered into a non-binding memorandum of understanding with Unicore Resources and Peng Fei and Want Yiting to establish a new company to subscribe for 10,750,000 shares in IFH for SG13,975,000.
Unicore Resources carries out import and export and trading in core commodities, according to a filing with the Singapore Exchange on Wednesday.
The proposed subscription is an opportunity for the subsidiary to tap into the experience of Fie and Yiting in the development and operation of a fourth egg farm.
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